Saudi Amiantit settles loans worth $28.53mln with Saudi, Bahraini banks

The settlement is expected to have a positive impact on the company's financial statements

  
Image used for illustrative purpose. Magnifying glass and banknote Saudi Arabia.

Image used for illustrative purpose. Magnifying glass and banknote Saudi Arabia.

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Riyadh –  The Saudi Arabian Amiantit Company announced the full settlement of its loans with Samba Financial Group, Bank Aljazira, Gulf International Bank, Al Baraka Islamic Bank (Bahrain), and Arab Banking Corporation (Bahrain).

The total value of loans with these banks reached SAR 107 million, the company said in a disclosure to the Saudi Stock Exchange (Tadawul) on Sunday.

The payment has been made from the company’s daily operations and the proceeds from the rights issue for the capital raise.

In December 2020, the company announced that the final allocation of its rights issue was 602.8% oversubscribed. A total of 1.376 million shares were sold for SAR 29.88 million.

Source: Mubasher

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