Saudi Arabian Mining Company (Maaden) has submitted a capital increase request to the Capital Market Authority (CMA), the company said in a bourse filing. 

 

In June, Maaden’s board of directors recommended to increase capital through a debt-for-equity swap with the Saudi Public Investment Fund (PIF), which owns 65 percent in the mining firm, as PIF would exchange its loans to Maaden subsidiaries into equity. 

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