Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO) made SAR 270.6 million in capital gains after selling shares inYanbu National Petrochemical Co. (Yansab), the company said in a statement to the bourse, Tadawul.
SPIMACO sold seven million shares at SAR 48.65 a share for a total of SAR 340.6 million from October 26, 2016, to January 15, it added.
The financial impact of SAR 247.8 million will be reflected in FY-2016, and of SAR 22.8 million in the first quarter of 2017.
The proceeds will be used to finance current and future projects of the company, and other securities investments will be reviewed for future consideration, it added.
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