Minister of Commerce and Industry Tawfiq Al-Rabiah has approved the establishment of Jadarah Recruitment Co., with a SR100 million capital quota to enhance employment opportunities and other economic activities.
“The minister has approved its licensing as a closed joint-stock company with a total capital of SR100 million divided into 10 million shares with a nominal value of SR10 each,” said media center officials at the ministry on Monday.
The shares of the recruitment company would only be traded following approval of the capital market authority, it said.
A three-member board of directors to be appointed for three years by the general assembly will manage the company from the date of the ministerial decree announcing the establishment of the company, it added.
The minister’s approval for the company came within the framework of the state’s policy to enhance economic activities in various sectors.
SR100m recruitment firm approved
