Al-Ahsa Development extends deadline for bids for the sale of its textile factory to April 17

10/03/2014 ِArgaam

Al-Ahsa Development Co extended to April 17 the deadline for accepting bids for the sale of its textile factory in the Industrial City in al-Ahsa as request by the investors, the company said in a statement posted on the website of the Saudi bourse, Tadawul.

 

The financial impact of the expected sale will be reflected in the second quarter, ending June 30, 2014.

 

The board has decided to sell the textile factory, non operational since 2007, because of making an accumulated losses of SAR 142 million. The previous deadline was set as March 15.

 

Al-Ahsa Development Co invests in industrial and services projects.

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