“Al-Sorayia Group” opens SAR 50m investment portfolio:

16/03/2014 Argaam

Al-Sorayia Trading and Industrial Group completed the necessary procedures to open SAR 50m investment portfolio.

The company signed a portfolio management agreement with Riyad Capital, the investment banking arm of Riyad Bank, after obtaining the Capital Market Authority’s approval.

Al-Sorayia indicated that the financial impact of this portfolio is to be reflected in the income statement at the end of each financial period.

The company announced opening SAR 50m portfolio earlier, on January 9, to diversify income sources through investing in IPOs.

This investment portfolio is to be financed by the company’s internal resources and local banks’ credit. 

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