Ma'aden plans $1.5bn rights issue
Dubai, May 15, 2014
Saudi Arabian Mining Co (Ma'aden) will seek shareholder approval for a 5.6 billion riyals ($1.49 billion) rights issue to help expand its operations, the company said on Thursday.
Ma'aden will use the money to expand its phosphate and gold operations, as well as adding further funding to its aluminium business, it said in a bourse filing. -Reuters