SACO, Saudi Fransi Capital set up SAR 12 mln portfolio

24/05/2015 Argaam

Saudi Company for Hardware (SACO) and Saudi Fransi Capital established on Thursday a portfolio around SAR 12 million, with financial impact expected to be reported this quarter.

 

After completing its initial public offering, SACO became listed on the Saudi bourse on May 12 as part of the retail sector, according to data compiled by Argaam. Its stock rose for the ninth consecutive session at the end of trading on Thursday to SAR 134.11, marking a 92 percent increase when compared to its original offering price.

 

SACO is currently one of the largest companies providing home improvement products in the kingdom. It operates 23 stores in 12 cities across the country, including three SACO world superstores.

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