Riyadh – Mubasher: Tihama Advertising and Public Relations Company has completed the formal procedures to acquire shares representing 35% of the capital of its subsidiary, Integrated Production Company for Audiovisual Media Production, at SAR 7.25 million.

The financial impact of the acquisition is expected to reflect starting from the next fiscal year ending on 31 March 2022, according to a bourse statement on Thursday.

Tihama said this acquisition is in line with its strategy for growth and expansion, particularly considering the large and rapid growth witnessed by the production sector.