IHS Chemical Week

Regions :: Middle East :: Saudi Arabia

Ma'aden plans rights issue to help fund investment projects

2:08 AM MDT | May 15, 2014 | Natasha Alperowicz

The board of directors of Saudi Arabian Mining Co. (Ma’aden; Riyadh) is seeking to increase the company’s share capital through a rights issue with a total value of 5.6 billion Saudi riyals ($1.49 billion). The decision, announced today, is subject to approvals from regulatory authorities and an extraordinary general assembly, whose date has yet to be fixed. The company plans to use the capital to expand its phosphate and gold operations and continue funding its aluminum...

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