Taibah Investment and Real Estate Development to double paid up capital
Saudi Arabia’s Taibah Investment and Real Estate Development stated on Monday it had appointed Saudi British Bank (SABB) to manage an issue of 15 million new shares which will double its paid-up capital to SR1.5 billion ($400 million). The new shares will have a nominal price of SR50, and an additional unspecified issue premium, Taibah said in a statement, cited by Reuters.
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