Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) said that the extraordinary general assembly meeting of its 100%-owned Saudi Dawa'akoum Co. approved the judicial liquidator’s decision to liquidate the company and taking the necessary procedures for removing the company from the commercial register.

Dawa'akoum has not undertaken any activities or businesses since inception and until the meeting date the reason for which the liquidation decision will not impact SPIMACO; the company said in a filing to Tadawul.
 

According to Argaam; SPIMACO established Dawa'akoum in 2007 with a capital of SAR 800m to operate in the field of petrochemical.

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