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Regions :: Middle East

Ma'aden appoints HSBC as financial advisor in rights issue

8:42 AM MDT | May 26, 2014 | Natasha Alperowicz

Saudi Arabian Mining Co., (Ma’aden) said today that it has appointed HSBC Saudi Arabia to act as financial advisor in its proposed rights issue. Ma’aden said on 15 May that it is seeking to increase the company’s share capital through a rights issue of 5.60 billion Saudi riyals ($1.49 billion).   The company plans to use the capital to expand its phosphate and gold operations and continue funding its aluminum...

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