SIECO spends SAR 38 mln of rights issue proceeds

Saudi Industrial Export Co. (SIECO) said in a bourse statement that the total proceeds of its rights issue that took place on Nov. 26, 2018 – March 31, 2019, reached SAR 54 million.

The offering costs reached SAR 4.03 million, and the remaining net cash amounted to SAR 11.58 million

The company capitalized on SAR 38.38 million, or 76.8 percent, of these proceeds until March 31, 2019 in investment sulfur export deals with Saudi Aramco.