Savola completes sale of 2% stake sale in Almarai
18/09/2017
Argaam
Savola Group, Saudi Arabia’s largest food producer, has completed the sale of a 2 percent stake, or 16 million shares in Almarai Co.
A total profit of SAR 694.1 million will be recorded in Q3 results, the Group said in a statement to Tadawul.
Savola’s stake in the Gulf’s top dairy producer has dropped to 34.52 percent from 36.52 percent.
Last week, Savola Group said it completed an accelerated book-building process with HSBC to sell 2 percent of its stake in Almarai with a set price per share of SAR 70, for a gross total of SAR 1.12 billion, Argaam reported earlier.
Related News
| HSBC completes first accelerated book-building in Saudi Arabia |
| Savola sets SAR 70/share for Almarai stake sale |
| Savola starts procedure to sell part of Almarai stake |
Market Indices
TASI
10,781.62
(96.84)
(0.89 %)
Quotes
ALMARAI
46.66
(0.28)
(0.60%)
SAVOLA GROUP
25.52
(0.32)
(1.24%)
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