The Minister of Commerce and Industry, Abdullah Bin Ahmed Zainal, has approved the transformation of Arab Marketing Company from limited liability into closed joint stock Company. The Undersecretary of Ministry of Commerce and Industry for Internal Trade Dr. Hassan Fadhel Aqeel said that the company's capital is SR 448,280,000, divided into 44,828,000 shares with a nominal value of 10 Saudi Riyals for each. The founders subscribed in all the shares of the company. The duration of the company is 99 years starting from the date of the Ministerial approval resolution; the duration may be extended by a resolution of the company's extraordinary general assembly. It is noteworthy that the Company shares can not be traded except only after obtaining the approval of Capital Market Authority (CMA).
