Al Hokair announces phase II of IFRS transition plan
Fawaz Al Hokair [4240.SE] announced the second phase of its implementation plan of International Financial Reporting Standards (IFRS). The company’s external consultants have started reviewing the accounting policies and procedures, which are expected to be approved in December 2016 before end of 3Q16/17. The company’s target date to prepare the first IFRS compliant financial statements is on 31 March 2017. (Tadawul) Al Hokair: SAR23.27 as of 31 October 2016, Rating: Neutral, FV: SAR42.00 per share, MCap: USD1,303mn, ALHOKAIR AB / 4240.SE
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