Atheeb details spending SAR 1.1 billion off its rights issue proceeds through June 2014

Etihad Atheeb Telecom Co., GO, has spent SAR 1.1 billion out of the SAR 1.2 billion proceeds of its rights issue that took place from March 24- March 31, 2012 , the company said in a statement to the Saudi bourse, Tadawul.

The breakdown of the payment as of June 30, 2014 is as follows:

Banque Saudi Fransi loan and quarterly installments payments : SAR 886.7 million

Founders bridge loan repayment: SAR 120 million

ZTE network equipment payment: SAR 64.4 million

Power Horizon: SAR 7.8 million

Mobily due bills: SAR 25.8 million

Motorola technical  service : SAR 15 million

Icom marketing service: SAR 2.12

Green Packet: SAR 4 million

STC network usage: SAR 3 million

Wipro monthly bills: SAR 20.2 million

The remaining precedes  will be spent as described in the rights issue booklet and will be disclosed later on.