The loan aims to convert a part of the short-term loans to medium-term loans, which will lead to increasing the liquidity necessary to finance the company's future needs, according to the company's disclosure to the Saudi Stock Exchange (Tadawul).
It is noteworthy to mention that in January, the company has inked a loan agreement worth SAR 100 million with Saudi Investment Bank (SAIB) under the Murabaha system.
Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.