Sadr Logistics hires financial advisor for rights issue

18/01/2021 Argaam

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Sadr Logistics Services Co. (formerly Al-Samaani Factory for Metal Industries Co.) appointed today, Jan. 18, FALCOM Financial Services Co. as a financial advisor to manage its rights issue, according to a bourse filing.

 

The company's board of directors recommended on Jan. 3, a capital hike through SAR 150 million rights issue. The capital hike aims to finance the company’s strategic and operational plans. It also aims to support expansion in logistics services.

 

According to data compiled by Argaam, Al-Samaani started trading on the Saudi Stock Exchange (Tadawul) on Dec. 10, 2020, following its transition from Nomu Parallel Market.

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