Herfy Food Services (6002.SE) announced that it would transition gradually to International Financial Reporting Standards (IFRS) before end of 2016. The company has appointed KPMG 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. (Tadawul) Herfy: SAR74.50 as of 30 August 2016, Rating: Buy, FV: SAR86.00 per share, MCap: USD918mn, HERFY AB / 6002.SE
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