Riyadh – Mubasher: The Saudi Marketing Co, Farm Superstores, has renewed a banking facilities contract with Gulf International Bank (GIB) for a total value of SAR 151.25 million ($40.33 million).

The financing duration will be from 28 August 2017 until 27 August 2018, according to a bourse statement issued on Wednesday.

Farm Superstores aims to finance the requirements of its working capital as well as launching new branches.

At the stock level, Farm Superstores closed Wednesday’s session 0.4% lower at SAR 24.87.