‎SRMG subsidiary raises stake in Thmanyah to 75%

Saudi Research and Marketing Group (SRMG) announced that its wholly owned subsidiary,Arab Media Co., has entered on May 11, into an agreement with the other shareholders ofThmanyah Publishing and Distribution Co.to increase its stake in the company from 51% to 75%.

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In a statement to Tadawul, SRMG said the agreement includes a capital increase at Thmanyah through the settlement and capitalization of previous payments and financing provided by Arabian Media Company to Thmanyah, totaling SAR 52.4 million to date.

Saudi Research and Marketing Group (SRMG) announced that its wholly owned subsidiary,Arab Media Co., has entered on May 11, into an agreement with the other shareholders ofThmanyah Publishing and Distribution Co.to increase its stake in the company from 51% to 75%.

In a statement to Tadawul, SRMG said the agreement includes a capital increase at Thmanyah through the settlement and capitalization of previous payments and financing provided by Arabian Media Company to Thmanyah, totaling SAR 52.4 million to date.