Minister of Commerce Dr Hashim Yamani has approved the establishment of Shu'a Capital company as a limited stock company with a capital of SR 150 million. The capital is split into 15 million shares, and the nominal value of each share is fixed at SR 10. The founders of the Riyadh-based company have already paid for the entire shares. The company will be concerned with security papers in line with the system of the business market and statutes issued by the financial market commission. The company will be managed by a nine-member board of directors who are to be appointed by the company's general assembly for a period of three years. This development comes in line with the state's policy which aims at broadening the economic base and encouraging the private sector to positively contribute to the acceleration of the process of economic development in the country.
