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Jebel Omar to launch rights issue
- Saudi Arabia: Sunday, October 25 - 2009 at 11:36
Saudi Arabia-based real estate developer, Jebel Omar Development Co has said that it plans to raise around $447.6m through a rights issue, which would finance about 14% of its sole project in the holy city of Mecca, Reuters has reported. The company has hired Islamic lender Al-Rajhi Bank to provide 'financial advice and arrange the necessary financing through diverse Islamic Shariah-compliant instruments.'
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StaffSunday, October 25 - 2009 at 11:36 UAE local time (GMT+4)
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