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Al Sorayai liquidates investment portfolio

Al Sorayai liquidates investment portfolio
The company logged SAR 2.7 million net losses on all sales made during the period of retaining the portfolio.
NASEEJ
1213
-0.38% 39.35 -0.15

Riyadh – Mubasher: Al Sorayai Trading and Industrial Group’s investment portfolio has been completely liquidated today, according to a bourse filing on Thursday.

Presently, the company fulfills all necessary requirements to close the portfolio for directing its liquidity to key business activities in line with its strategic goals, the filing revealed.

The company logged SAR 2.7 million net losses on all sales made during the period of retaining the portfolio.

These losses will have no impact on FY16 financials as having been resulted in earlier financial results.

The only impact is to recover cash balance resulted from the liquidation transaction.