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New Saudi Companies Established and Transformed With a Capital of SR 224 Million
Al Published in Saudi Press Agency on 07 - 03 - 2011

Akhir 02, 1432, Feb 21, 2011, SPA -- The Minister of Commerce and Industry Abdullah Ahmad Zaynal Ali Reza has approved the establishment and transformation of three companies with a capital of SR 224 million.
In a press statement issued here today, Dr. Hassan bin Fadhel Aqeel, the Deputy of Ministry of Commerce and Industry for Internal Trade said that the Minister has approved the transformation of Yamama Company for Red Bricks and Clay Products with a capital of SR 220 million from a limited liability company into a closed joint stock company.
He added that the Minister has also approved the establishment of Inma Al-Rawabi Company and Fifa Al-Ahadiyah Holding Company as closed joint stock companies, each one with a capital of SR 2 million.
He noted that the nominal value of each shares of the companies is SR10, the founders subscribed in all the shares, and the duration of the company will be 99 years.

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