Jabal Omar Development Company announced today on Tadawul developments of use of June 2011 IPO proceeds as follows:
Description |
Amount in SAR |
Gross IPO proceeds |
2580m |
IPO fees and expenses |
76m |
Implementation of Phase 1 of the project |
862m |
Repayment of the bridge loan obtained from Al-Rajhi bank |
350m |
Phase 2 (designs, foundation and construction expenses) |
373m |
Total amount spent till April 29,2014 |
1661m |
Remaining amount that will be spent according to the prospectus |
919m |
The company said that all amounts are spent according to the IPO prospectus without any deviations.
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