Al-Khodari ‘still preparing’ capital raise request

Abdullah A. M. Al-Khodari Sons Company said on Sunday that it is still in the process of preparing a capital raise request, which will be submitted to Saudi Arabia’s market regulator, the Capital Market Authority (CMA).

The company plans to raise its capital through a SAR 500 million rights issue, and has already appointed GIB Capital as the financial advisor for the process.

Al-Khodari said it hopes to submit its paperwork to the CMA sometime during July.