Riyadh – Mubasher: Saudi Arabia-based Abdullah Abdul Mohsen Al-Khodari Sons Company signed a SAR 115 million Islamic loan agreement with Abdullah A. M. Al-Khodari Sons Investment Holding Company on Sunday, 31 December 2017.
Abdullah A. M. Al-Khodari Sons Investment Holding Company is a related party and major shareholder.
The loan was secured by a promissory note and it aims to finance the operating capital and purchase fixed assets for the firm.
“This Loan is to be repaid without any commissions or financial charges within a period not exceeding 31/12/2019,” according to a statement on Monday to the Saudi Stock Exchange (Tadawul).
By 10:53 am KSA time, Al Khodari’s stock decreased 1.37% to SAR 9.35.
