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Bawan agrees SAR89m finance deal with BSF

Bawan agrees SAR89m finance deal with BSF
The five-year agreement includes a one-year grace period
BAWAN
1302
0.12% 16.42 0.02
BSFR
1050
-0.82% 36.40 -0.30

Riyadh – Mubasher: Bawan Company announced that it has obtained a medium-term SAR 88.6 million Shariah-compliant finance facility from Banque Saudi Fransi (BSF).

The five-year agreement includes a one-year grace period, according to the company’s statement to the Saudi Stock Exchange (Tadawul).

The company noted that the funds will be used to finance the company’s subscription in the initial public offering (IPO) of the Saudi Arabian Oil Company (Saudi Aramco).

Bawan Company recorded a net profit after zakat and tax of SAR 3.6 million during the third quarter (Q3) of 2019.