A group of Saudi businesswomen have begun official procedures to establish a new joint stock company, the first of its kind to be established by local women, reports Al-Sharq Al-Awsat daily.
The new enterprise, to be situated in Riyadh, will specialize in handcraft industries manufacturing. The company’s capital, estimated at 10 million Saudi riyals ($2.6 million), will be distributed in the form of stocks with a total value of SR 50.
The minimum subscription volume has been set at 100 stocks, while the maximum stands at 5,000. The company will begin operations two years after it will be officially established. –(MENA Report)
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