Riyadh – Mubasher: Saudi Pharmaceutical Industries and Medical Appliances Corporation (Spimaco) said Monday that its shareholders agreed yesterday on creating a provision of SAR 220 million to offset losses of Arabian Industrial Fiber Company (Ibn Rushd).
Earlier on 3 April, the company’s board of directors proposed allocating SAR 220 million from general reserves to offset Ibn Rushd losses.
Spimaco owns a 4.17% stake in Ibn Rushd Company.
