Bank Aljazira hires financial advisors for rights issue

09/10/2017 Argaam

 

Bank Aljazira has appointed Alinma Investment Co. and JP Morgan Saudi Arabia as financial advisors to manage its rights issue, the bank said in a statement to Tadawul on Monday.

The bank added that it is working on completing necessary procedures to re-submit the registration and listing file of its rights issue to the Capital Market Authority (CMA).

The Saudi-listed bank said in July 2016 that it would re-apply for a SAR 3 billion capital hike through rights issue at the CMA, after it withdrew its request in December 2015 due to market conditions.

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