Jabal Omar Development Company announced today on Tadawul developments of use of June 2011 IPO proceeds as follows:
|
Description |
Amount in SAR |
|
Gross IPO proceeds |
2580m |
|
IPO fees and expenses |
76m |
|
Implementation of Phase 1 of the project |
862m |
|
Repayment of the bridge loan obtained from Al-Rajhi bank |
350m |
|
Phase 2 (designs, foundation and construction expenses) |
499m |
|
Total amount spent till October 24,2014 |
1787m |
|
Remaining amount that will be spent according to the prospectus |
793m |
The company said that all amounts are spent according to the IPO prospectus without any deviations and that the project is 42.6% complete.
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