Saudi's Sadr hires financial advisor to manage subscription of priority rights shares

Sadr’s board proposed increasing the capital by $40mln via a rights issue

  
Saudi traders are seen as they monitor stock information at the Saudi stock market in Riyadh, Saudi Arabia August 25, 2020. Image used for illustrator purpose

Saudi traders are seen as they monitor stock information at the Saudi stock market in Riyadh, Saudi Arabia August 25, 2020. Image used for illustrator purpose

REUTERS/Ahmed Yosri
Riyadh – Sadr Logistics Services Co., previously Al Samaani Factory for Metal Industries Company, appointed FALCOM Financial Services Co. as a financial advisor to manage the subscription of priority rights shares.

The announcement was made on Monday by Sadr via a statement to the Saudi Stock Exchange (Tadawul).

On 4 January, Sadr’s board proposed increasing the capital by SAR 150 million via a rights issue to help the company implement its strategic and operational plans while supporting the expansion of logistics services.

Source: Mubasher

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