Ash-Sharqiyah’s board approves setting up logistics company

Logo of Ash-Sharqiyah Development Co. 

Ash-Sharqiyah Development Co.’s board of directors approved, on Feb. 13, establishing a wholly owned, limited liability company.

The new company will be Ash-Sharqiyah’s investment arm in the field of food production logistics, according to a statement to Tadawul.

The step aims to achieve diversification of the company’s business through owning companies and practicing activities with rewarding returns and quick liquidity in a way that maximizes shareholders' equity.

The financial impact will be disclosed once the company is established and operations begin, Ash-Sharqiyah added.