30 May 2005
Beirut (APD) - The Saudi-based Aseer Company announced that it was one of the founders of Al Tayyar Travel Group with a stake of SR 20 million representing 82,645 shares after Al Tayyar was transformed into a closed stock company with a capital of $40 million last week, the Saudi Stock Exchange website, Tadawul, reported Saturday.
Beirut (APD) - The Saudi-based Aseer Company announced that it was one of the founders of Al Tayyar Travel Group with a stake of SR 20 million representing 82,645 shares after Al Tayyar was transformed into a closed stock company with a capital of $40 million last week, the Saudi Stock Exchange website, Tadawul, reported Saturday.
Al Tayyar, which is the first stock company in the travel and tourism industry in the Gulf region, formed its new board of directors and gave Aseer one seat in it, the website said.
The new stock company that is considered one of the largest travel firms in Saudi Arabia, will embark on expansion endeavors to invest in tourism projects and operate touristic resorts and hotels in the Arab world and worldwide.
Al Tayyar's chairman Nasser Al-Tayyar told ASHARQ AL-AWSAT last week that he has plans to take the company public in the next two years. [SN-FC]
© APD (Arab Press Digest) 2005
