Saudi Real Estate Co. proposes capital raise via priority rights issue

The board also approved the appointment of NCB Capital as financial adviser

  
Saudi men inspect a screen showing stock prices at ANB Bank in Riyadh, Saudi Arabia September 16, 2019.

Saudi men inspect a screen showing stock prices at ANB Bank in Riyadh, Saudi Arabia September 16, 2019.

REUTERS/Ahmed Yosri
 
RIYADH: The Saudi Real Estate Co. is considering issuing priority rights to raise SR1.6 billion to finance its future projects, the company said in a filing to Tadawul.

The company’s board on Monday decided to present the proposal at an extraordinary general assembly.

The board also approved the appointment of NCB Capital as financial adviser.

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