Logo of Jabal Omar Development Co.

Jabal Omar Development Co. (JODC) announced today, April 21, the appointment of SNB Capital as financial advisor for its planned capital increase through debt conversion.

 

Announcements will be made later upon submitting the capital increase application to the Capital Market Authority (CMA) for approval, the company said in a statement to the Saudi Exchange (Tadawul).

 

On April 20, JODC’s board of directors recommended increasing the company's capital from SAR 9.29 billion to SAR 11.55 billion by issuing 225.13 million shares, Argaam earlier reported.

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