Al-Khodari seeks regulatory approval forcapital raise request

Abdullah A. M. Al-Khodari Sons Company, in cooperation with its financial advisor Gulf International Bank (GIB), is preparing to submit a capital raise request to Saudi Arabia’s Capital Market Authority.

Al-Khodari said on Sunday that it will announce further details once it has submitted the request to the market regulator, according to its statement to Tadawul, Saudi’s bourse.

Last November, Al-Khodari’s board of directors recommended a SAR 500 million capital raise through a rights issue, according to data compiled by Argaam.