Mubasher TV
Contact Us Advertising   العربية

SIEC to redeem SAR 14m from Afia International

SIEC to redeem SAR 14m from Afia International
SIEC’s stock rose 2%, closing Monday at SAR 272.01.
SIECO
4140
11.18% 27.85 2.80

Riyadh – Mubasher: Jeddah court on Monday has issued a final ruling for in favor of  Saudi Industrial Export Co (SIEC) to recover SAR 14.05 million from Afia International Co.

Afia, the Egypt-based edible oil manufacturer, must pay this amount out of SAR 15 million to SIEC, according to a statement to the Saudi Stock Exchange (Tadawul).

On 10 December 2017, SIEC received an initial judgment from a Jeddah court, stipulating that it would redeem insurance fees at a value of SAR 14.05 million from Afia International.

SIEC’s stock rose 2%, closing Monday at SAR 272.01.