Vibco's stock rises After Receiving Gold Category of 'Made in Saudi Arabia' Label"

The shares of Vibco, a leading company in packaging materials manufacturing, saw a notable increase on Thursday, rising by more than 3%, following the company's announcement of being awarded the prestigious gold category of the "Made in Saudi Arabia" label. This achievement underscores the company’s successful efforts in enhancing local content and supporting the national economy.

In an official statement released on the Saudi Stock Exchange (Tadawul), Vibco confirmed its receipt of the gold category of the "Made in Saudi Arabia" label, positioning it among only seven national companies to achieve this distinction. The company highlighted that this recognition was the result of collaborative efforts between the Local Content and Government Procurement Authority and the "Made in Saudi Arabia" program, which aims to encourage prominent national companies to foster local content development and contribute to the national economy, in alignment with the national industrial strategy.

Additionally, Vibco noted that this recognition follows its victory in securing first place in the private sector category of the Local Content Excellence Award. The company was honored with the award for large enterprises in the industrial and mining sector during the latest edition of the award, which further bolstered its reputation.

On the stock market, Vibco’s share (TADAWUL: 2180) experienced a notable rise of 3.17%, increasing by 1.45 Saudi Riyals, to trade at 47.25 Saudi Riyals during today’s session. This strong performance reflects a surge of optimism among investors following the company’s strategic accomplishment.