Arab Sea finalizes setting up new unit

Logo of Arab Sea Information Systems Co.

Arab Sea Information Systems Co. finalized the establishment of its subsidiary, Era Data Information Technology, according to a bourse filing.

Arab Sea signed some agreements with local companies to equip data centers and supply devices and accessories.

There are no costs associated with the event during the current period, and the financial impact will be announced later, if any, it added.

In early February, Arab Sea completed the issuance of the memorandum of association and commercial register to set up a subsidiary company, with a capital of SAR 5 million.