The Minister of Commerce and Industry Dr. Tawfiq bin Fawzan Al-Rabiah has approved the establishment and transformation of two companies with capitals of SR 150 million. A press release issued by the Ministry today said that the Minister approved the establishment of Riyadh-based Saudi Recruitment Company as a closed joint stock company with a capital of SR 100 million. The Minister approved the transformation of Riyadh-based Abdulghani Al-Ajou and His Sons Holding Company with a capital of SR 50 million from a limited liability company to a closed joint stock company. The release pointed out that the capital is divided into shares with a nominal value of SR 10 per share and the founders and partners have subscribed to all the shares of the companies. The Minister's approval came within the framework of the State's policy to enhance economic activities in various sectors.
