Riyadh – Mubasher: Raoom Trading Company obtained a Sharia-compliant financing facility worth SAR 30 million from Bank Aljazira on 13 December 2022, according to a recent bourse disclosure.
The facility agreement, which is valid until 12 July 2023, is secured by a promissory note worth the value of the total loan limit in favour of the Saudi lender.
Meanwhile, the company will use the proceeds of the funding to scale up its investments.
Last August, Raoom Trading’s shareholders granted their approvals for a 25% capital raise through bonus shares to SAR 62.50 million from SAR 50 million.
