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Monday, 17 April 2017

Troubled Saudi Oger sells 2.8 pct stake in Saudi Investment Bank | Reuters

Troubled Saudi Oger sells 2.8 pct stake in Saudi Investment Bank | Reuters:

"Financially troubled construction company Saudi Oger sold a 2.8 percent stake in Saudi Investment Bank, bringing its stake in the bank down to 5.8 percent in the course of a single trading day, stock exchange data showed on Monday.

The data did not reveal the identity of the buyers and the companies could not immediately be contacted for comment.

Saudi Investment Bank, which offers retail, corporate, treasury and asset management services, had a market capitalisation of $2.62 billion at the market's last close, implying the sale could have raised about $73 million."



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