Al Jouf receives export licence; impact unclear yet
Al Jouf Cement Co. [3091.SE] has received its export licence from the Saudi Ministry of Commerce and Investment. The company noted that the licence will be valid for one year from the issuance date. It is worth mentioning that the impact is yet to be tested, given over-capacity in the region. (Tadawul) Al Jouf Cement: SAR8.96 as of 23 Feb. 2017, Rating: Neutral, TP: SAR8.50/share, MCap: USD311mn, JOUF AB/3091.SE
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