SNB Capital distributes holdings of SNB Funds 4, 13 in SRMG to unitholders

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SNB Capital, the manager of SNB Investment Fund 4 and SNB Investment Fund 13, which jointly own 59.8% of Saudi Research and Media Group (SRMG) announced distributing these equities to unit holders upon their request.

SNB Investment Fund 4 and SNB Investment Fund 13 joined SRMG as new shareholders in November 2015.

SRMG reported an 8% rise in Q1 2023 net profit to SAR 121 million, compared to SAR 112.5 million in the first quarter of 2022, Argaam reported.

SRMG was established in 1987. It is a holding company of several firms and media platforms, mainly Asharq, and Asharq Al-Awsat Daily. SRMG also owns a 51% stake in Argaam.