Jarir Marketing Company (4190.SE) announced the opening of its newest store in Riyadh, marking the company’s 38th store in Saudi Arabia (45 in the GCC in total). The new store, which is located on King Abdullah road in Riyadh, sits on a total area of ?3,910 square metre and had an investment cost of SAR23mn, with a Saudisation rate of 61%. The company is expecting the new store to contribute to its sales and profits as of 4Q16. (Company disclosure) Jarir Marketing Co.: SAR91.20 as of 31 October 2016, Rating: Neutral, FV: SAR127.00 per share, MCap: USD2,189mn, JARIR AB / 4190.SE
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