Advanced Petrochemical kicks off SAR 150 mln investment portfolios

20/02/2014 Argaam

Advanced Petrochemical Company said today it won regulatory approval for launching three investment portfolios with a total value of SAR 150 million in a bid to diversify its income.

The portfolios will be managed by three local CMA-chartered institutions, and will be financed by internal resources, the company said in a filing on Tadawul.

The financial impact of investments will be reflected in the income statement on exits, the company said.

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