Pan Gulf Marketing Company Secures $18.7 Million Loan from Saudi Awwal Bank

Pan Gulf Marketing Company Secures $18.7 Million Loan from Saudi Awwal Bank

By Staff Writer, 04 June 2024

Pan Gulf Marketing Company has secured a SAR 70 million (USD 18.7 million) loan from Saudi Awwal Bank (SAB), as disclosed by the company.

The loan, which is backed by a promissory note and corporate guarantee, has a validity of one year.

The funds obtained from the loan will be utilized by Pan Gulf Marketing Company to support its working capital requirements.

Earlier this year, the company successfully listed and began trading its shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul) under the symbol 9593, setting the offering price at SAR 51 per share.

Source: Mubasher

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