Abdullah A.M. Al-Khodari Sons Co. on Oct. 23 appointed GIB Capital as financial advisor for its capital increase through the issuance of new shares, the company said in a statement to Tadawul on Tuesday.

 

Earlier this week, Al-Khodari’s board of directors recommended a capital hike of up to SAR 385 million through the issuance of new shares, in order to settle the builder’s liabilities to vendors and major shareholder, Abdullah A.M. Al-Khodari Sons Investment Holding Company, Argaam previously reported.

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