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.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

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

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request