Fawaz Al Hokair to transition to IFRS
Fawaz Al Hokair [4240.SE] announced plans to transition to International Financial Reporting Standards (IFRS) on 30 November 2016. The company has appointed Price Waterhouse Coopers (PwC) as an external advisor for the transition process, in addition to establishing an internal team responsible for its implementation, targeting to prepare the first IFRS financial statements on 31 December 2016 for all 2016 quarters. (Tadawul) Al Hokair: SAR39.21 as of 31 August 2016, Rating: Neutral, FV: SAR42.00 per share, MCap: USD2,196mn, ALHOKAIR AB / 4240.SE
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