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Arab Finance: Saudi Seventh Investment Company, a subsidiary of Saudi Arabia's Public Investment Fund (PIF), has officially submitted a request to obtain representation on the board of directors of Tenth of Ramadan Pharmaceutical Industries and Diagnostic Reagents Company (Rameda), as per an emailed press release.
The company is set to hold its ordinary general meeting (OGM) in March to vote on the proposed board nomination.
The request for board representation is viewed as reflecting a long-term investment interest in Rameda.
It is worth noting that the PIF-backed company holds a stake exceeding 11% in Rameda.
