Red Sea International appoints financial advisor on capital hike via debt conversion

29/10/2023 Argaam
Logo of Red Sea International Co.

Logo of Red Sea International Co.

Red Sea International Co. appointed Al Rajhi Capital as financial advisor on its prospective capital hike through debt conversion, the company said in a statement to Tadawul today, Oct. 29.

 

An announcement will be made when the capital increase request is filed with the Capital Market Authority (CMA). Any future developments will also be revealed in due course, the statement added.

 

According to data compiled by Argaam, last August, Red Sea International’s board of directors recommended increasing capital through converting SAR 80.23 million worth of debt owed to Al-Dabbagh Group, as well as capitalizing SAR 294 million in debt from the acquisition of Fundamental Installation for Electric Work Co. Ltd. (First Fix).

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
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.