Riyadh - Mubasher: The board of Mohammed Hassan Al Naqool Sons Company has approved to establish a wholly-owned subsidiary company with limited liability after obtaining the necessary approvals from the relevant authorities.

To be headquartered in Dammam with a capital of SAR 500,000 riyals, the subsidiary company will be specialised in real estate development, according to a bourse filing on Thursday.

This step comes in line with the company's strategy to expand and diversify its activities.

Noteworthy to mention, as of Wednesday, 2 June, the shares of Mohammed Hasan AlNaqool Sons Co. were directly listed and traded on Nomu Parallel Market with the symbol of 9514 and ISIN Code of SA158GAKKL15.