The Clap
Jahez for Information Systems Technology (9526) announced the establishment of the “Blu Store” company.
Blu Store is an e-commerce application, in cooperation with the “Al Hilal Investment Club” company.
The Deets
Blu Store will have a paid capital of 500,000 riyals, 51% financed by Jahez, & 49% by Al Hilal.
Jahez has financed its share in the capital from its own sources.
The New Company
Blu Store will display, market and sell products, & is expected to launch after obtaining the necessary approvals and licenses.
Why this Matters
It is expected that Blu Store’s operations will positively affect Jahez’s financial results in the future.
