Riyadh – Mubasher: Abdullah Abdul Mohsen Al Khodari Sons Company (Al Khodari) on Tuesday announced appointing GIB Capital as a financial advisor to manage its capital increase through issuing new shares for the company debts.

On Sunday, 22 October the firm’s board of directors recommended to raise capital not more than SAR 385 million.

Capital hike aims to settle liabilities to vendors and major shareholders, and to Abdullah A.M. Al-Khodari Sons Investment Holding Company.

By 12:13 pm KSA time, Al Khodari’s stock declined 0.21% to SAR 9.38.