Feb 07 2006 |
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Aseer Signs SR 350 Million Murabaha Deal with Samba
Beirut (APD) - The Saudi-based Aseer Company has signed a SR 350 million ($93.32 million) short term murabaha agreement with Samba Financial Group to finance part of its new expansion plans, Aseer said on the Saudi Stock Exchange website, Tadawul on Monday.Aseer had signed a previous deal with Samba to study the options for financing its future strategic expansion projects, including a capital increase, Aseer said.
Earlier in January, the Saudi Capital Market Authority (CMA) has approved Aseer request for this rights issue that will boost its capital from SR 625 million to SR 812.5. Aseer had appointed Samba as lead manager of the rights issue that will be launched in the first half of 2006.
Aseer's share opened on Tuesday at SR 1,627 reached a high of SR 1,651 to close at SR 1,632 in the morning session of Tuesday up by SR 6 or 0.37% from its last close on Monday.
By Shikrallah Nakhoul, APD Staff Writer in Beirut
© APD (Arab Press Digest) 2006
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