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Jiyad seals $14m financing deal for unit

Jiyad seals $14m financing deal for unit
Jiyad posted a decline of 74% in Q1 profits
JIYAD
JIYAD
0.87% 46.50 0.40

Mubasher: Jiyad Holding Co has finalised a funding deal valued at $14.18 million (KWD 4.36 million) from a Gulf bank.

This seven-year financing was sealed by Jiyad for a fully-owned subsidiary to fund its operating activity.

Jiyad noted that the financial impact of this funding will be registered in the interim financial statements for the period ending 30 September 2019, according to a bourse disclosure on Wednesday.

Noteworthy, during the first quarter of 2019, Jiyad posted a decline of 74% in profits to nearly KWD 184,410 when compared to around KWD 720,660 in the same period last year.