Jabal Omar lists new shares issued to creditors

Logo of Jabal Omar Development Co.

Jabal Omar Development Co. listed new shares issued as part of a capital increase through the conversion of outstanding debts in favor of creditors, effective as of Nov. 7.

 

With the completion of this procedure, the transaction has been finalized, the company said in a statement to Tadawul.

 

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According to data available to Argaam, Jabal Omar's shareholders approved on Nov. 4 increasing capital through converting SAR 547.5 million worth of debt into new shares for Central District Cooling Co. and Makkah Construction and Development Co., raising the capital by 2.2% to SAR 11.8 billion.

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