Riyadh – Mubasher: Saudi Automotive Services Company (SASCO) has signed a Shariah-compliant bank facility agreement with Saudi British Bank (SABB), according to a bourse filing.
The medium-term financing of SAR 190 million aims at diversifying the company's investments by subscribing in the initial public offering (IPO) of Saudi Aramco.
The financing agreement is extended to 5 years, according to a statement to the Saudi Stock Exchange (Tadawul).
The amount of financing will be determined based on shares that will be allocated to the company after the subscription.
