Riyadh – Mubasher: Fitaihi Retail Company, the subsidiary of Fitaihi Holding Group, has completed the sale of gold worth SAR 2.72 million to the associate company, International Medical Center (IMC).
The transaction’s value was received in cash, according to a recent bourse filing.
The Saudi listed company will use the proceeds of the sale for operational financing purposes.
The transaction’s financial impact is expected to appear in the company’s financial results for the first quarter (Q1) of 2020.
This sale is subject to the final approval of the ordinary general meeting (OGM) and other necessary regulatory approvals.
Fitaihi Holding wholly owns Fitaihi Retail Company and holds a 19.25% stake in IMC.
