SITC shareholders to receive SR1.05bn in compensation
24/04/2014 12:55 pm EDT

share with your network:

The Saudi government has been instructed by King Abdullah to pay compensation, worth SR1.05bn, to shareholders of the Saudi Integrated Telecom Co (SITC) after it was declared bankrupt, Arab News has reported. Shareholders will be paid compensation of SR30 per share, in accordance with the royal decree, up SR5.7 from the closing price of SR24.3. Tadawul stopped exchange of SITC shares on its bourse on February 6, 2013. Al-Mawarid Investment held the largest stake of 28% in the company, while the Public Investment Fund held 5%.

About the Author

share with your network:

Share your view

© 1996-2015 Media quest FZ LLC A media and entertainment company
Middle East Main Office
[email protected]
© 2015 Dubai Business | Ameinfo . All rights Reserved.