Arriyadh Development starts up SAR 50-100 million investment portfolio

16/09/2014 Argaam

Arriyadh Development Company launched an investment portfolio to invest up to USD 100 million for tenures ranging between one and two years, a filing to Tadawul said.

The company signed an agreement with a licensed financial institution to manage the investment, which aims to diversify its sources of income.

A financial impact is expected in the third quarter of this year, the company said.

The investments will be recorded as available for sale investment at fair market value with the unrealized gains/losses recognized within the shareholder’s equity in accordance with the Saudi Accounting Principles. The portfolio’s financial impact is to be reflected on Q3-2014’s financials.

The filing did not disclose the portfolio manager’s name.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read