Riyadh – Mubasher: The Saudi Industrial Development Company (SIDC) on Thursday said that it will redeem a SAR 15.19 million amount from its former partner Juhaina Trading, Industry and Contracting Co.

The decision was announced after a lawsuit submitted to Jeddah’s commercial court, according to a statement to the Saudi Stock Exchange (Tadawul).

SIDC last reported a 195% year-on-year increase in losses during the full-year 2018, registering SAR 30.1 million, up from SAR 10.2 million during 2017.

By 10:42 am Saudi time, SIDC’s stock levelled down 0.12% to SAR 8.38.