Commerce and Industry Minister Tawfiq Al-Rabiah has approved the transformation of Jeddah -based Al-Bouqari and Al-Sabban Tourism Company to a closed joint stock company from a limited liability company.

It has a capital of SR50 million, SPA reported.

The capital is split into shares and the nominal value of a share is SR10.

The company’s shares have been fully subscribed by partners, said the SPA report.

The minister’s approval came within the framework of the state’s policy to enhance economic activities in various sectors.