Al-Baha opts to sell ​Athrab tourism, ​leather factory​ projects​; OKs doubling capital

04/03/2015 Argaam


Al-Baha Investment and Development Company’s board gave a nod on Tuesday to sell its Al-Baha Synthetic Leather Factory and Athrab Cable Car project.

The board said it opted for selling, instead of leasing, in order to boost revenues.

Al-Baha added that it will look to acquire existing low-risk projects and venture into investments. The board also decided to increase its capital from SAR 150 million to SAR 300 million through a one-for-one share rights issue.

The resolution comes as part of the company’s turnaround plan, given ​that ​its Athrab Cable Car tourism project, as well as the leather factory had been halted for over ten years.

 

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.