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09-Aug-2016

Jarir opens its third store this year 

Jarir Marketing (4190.SE) announced the opening of its newest showroom in Riyadh marking the company’s 37th store in Saudi Arabia (43rd in the GCC in total). The new store sits on a total area of 4,038sqm, costs an estimated SAR21mn and has a Saudisation rate of 37%. The company expects the new store to contribute to its numbers from 3Q16. (Company disclosure)   Jarir Marketing Co.: SAR111.74 as of 08 August 2016, Rating: Neutral, FV: SAR127.00 per share, MCap: USD2,682mn, JARIR AB / 4190.SE

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