17 July 2011
RIYADH: Jazan Development Company (Jazadco) announced finalization of the deal with a European investor effective July 15 to complete the sale of 2.5 million shares held in Selonda SA for a value of 2.125 million euros equal to SR11.05 million and 857,611 shares held in Interfish for a value of 0.575 million euros equal to SR2.99 million for a total value of 2.7 million euros equal to SR14.04 million.
RIYADH: Jazan Development Company (Jazadco) announced finalization of the deal with a European investor effective July 15 to complete the sale of 2.5 million shares held in Selonda SA for a value of 2.125 million euros equal to SR11.05 million and 857,611 shares held in Interfish for a value of 0.575 million euros equal to SR2.99 million for a total value of 2.7 million euros equal to SR14.04 million.
The transaction exceeds prevailing Greek stock exchange market value by 1.1 million euros equal to SR5.7 million (68 percent) which is a successful deal for Jazadco. The effect of this deal will be reflected in the 3rd quarter results for the company.
© Arab News 2011
