Jabal Omar Development Co. (JODC) will likely see the financial impact of the capital increase by Q3 2022, Asharq News reported, citing Chief Executive Officer (CEO) Khalid Al-Amoudi.

 

The capital increase, which will take place via issuing new shares to Alinma Makkah Real Estate Fund unitholders, will reflect positively on the company’s financial position and will help to deleverage.  

 

Jabal Omar is on the right track with a strong presence, he said, indicating the company will generate profit by the third quarter from reversing the rents owed to the fund.   

 

JODC shareholders approved, on Aug. 25, the board’s recommendation to increase capital by 24.22% from SAR 9.29 billion to SAR 11.55 billion through converting SAR 5.30 billion of debt owed by the company to Alinma Makkah Real Estate Fund. 

Comments 0

Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Related News

Jabal Omar shareholders approve capital increase to SAR 11.55 bln via debt conversion

Market Indices

TASI
11,811.11
(87.75) (0.74 %)
Created with Highstock 6.0.710:…10:0011:0012:0013:0014:0015:0011,650.0011,700.0011,750.0011,800.0011,850.0011,900.00
Close : 11811.11 | Mar 6, 15:20
More

Quotes

JABAL OMAR
25.30
(0.80) (3.07%)
Created with Highstock 6.0.710:…10:0011:0012:0013:0014:0015:0024.5025.0025.5026.0026.50
Close : 25.30 | Mar 6, 15:20
More


Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2025, Argaam Investment, All Rights Reserved
Call Request

Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.

Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website