Riyadh – Mubasher: Saudi Arabian Amiantit Company signed a settlement agreement with Saudi National Bank (SNB) for SAR 313 million facilities due to the bank at a 50% discount.
Amiantit paid only SAR 156.5 million from the proceeds of the capital increase while the remainder were exempted, according to a bourse filing.
The company announced that the financial impact of this transaction is an accounting profit of SAR 156.5 million, which will be reflected in the financial statements for the first quarter (Q1) of 2024.
In February 2024, Amiantit signed an agreement with SNB to settle a SAR 313 million debt.
