The Saudi Company for Drug Industries and Medical Appliances (SPIMACO Pharmaceuticals) announced the sale of part of its equity investment portfolio of 482 million riyals.
The company said in a statement to the Saudi market (Tadawul), today, Wednesday, that the net proceeds from the sale amounted to 482 million riyals on September 15, 2020, equivalent to 10.1% of The total assets of the company amounting to 4,757 million riyals as of 30 June 2020
The company clarified that the sale was executed through the stock market, noting that the company is continuing with the sale process.
and the company indicated that the book value of the sold asset amounted to 247 million dinars, explaining that it achieved profits through other comprehensive income of 235 million riyals until September 15, 2020.
p>
and stated that the profits realized from the sale are not classified within the profit or loss list and will be transferred from the fair value reserve to the retained earnings within the equity attributable to the shareholders of the company.
and the company stated that it will use the proceeds from the sale of the asset by completing the company's projects and supporting the operations and future plan of the group.
(Amazon Fun Knowledge)
