Article: SR 1.2 billion Baladul Ameen Company in offing.

The Holy Capital Municipality is set to launch a new company to work as its investment arm.

The Ministry of Commerce and Industry's decision granting license to Baladul Ameen Company is expected in the coming days,according to a senior municipality official.

The company,with a capital of SR 1.2 billion, will be fully owned by the municipality.

There will be 120 million shares,each share costing SR 10.

There could be changes in the ownership of the company through offering full or part of the shares for public sale,and this will be possible only six years after formation of the company.

Ibrahim Al Gamdi, director general for ...

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