Ma’aden appoints HSBC Saudi Arabia as financial advisor for its SAR 5.6 billion rights issue

10/08/2014 Argaam

Saudi Arabia Mining Company (Ma’aden) has appointed HSBC Saudi Arabia as a financial advisor and manager of its planned SAR 5.6 billion rights issue.

The mining company, whose capital is currently at SAR 9.25 billion,  officially applied on Aug 7 for a capital increase to the market regulator three months after its board had recommended it.

Ma’aden is 50 percent owned by the Public Investment Fund (PIF), 9.6 percent by the General Organization for Social Insurance (GOSI), and 7.4 percent by the Public Pension Agency. 

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