- RIYADH: Commerce and Industry Minister Abdullah Zainal Alireza has approved licenses for two companies to be converted into closed joint stock companies, Al-Eqtisadiah newspaper reported on Thursday.
Saudi Specialized Laboratories Co. has been converted from a limited liability company to a closed joint stock company with a capital of SR500 million with 50 million shares at the nominal value of SR10 per share with Riyadh as its headquarters, said Ministry Undersecretary Hassan Oqail.
The ministry has also approved the conversion of the Al-Nemal Co, owned by Ali Abdul Kareem A-Namlah and Sons Ltd, from a limited liability company to a closed joint stock company, he said.
The company’s name will be changed to Al-Nemal Holding Co.
Its capital would be SR14.1 million with 1.41 million shares at a nominal value of SR10.
Its headquarters will also be in Riyadh.
