SAUDI ARABIA: Jabal Omar’s SAR350 million (US$93.33 million) bridge financing from Al Rajhi Bank will be partly repaid via a SAR9.3 billion (US$2.48 billion) rights issue.
The Saudi developer’s shareholders on the 29th May approved a 38.4% capital increase which will be raised through the rights issue, to be offered from the 6th June through to the 15th June.