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28-Aug-2016

Al-Khodari wins SAR69mn contract; gets SAR132mn credit facility

Abdullah A. M. Al-Khodari Sons (Al-Khodari) announced that it had been awarded SAR69.0mn project by the Ministry of Environment, Water and Agriculture related to the maintenance of water networks. The duration of the project is three years. The contract is expected to be signed before end of 3Q. This brings the total awards YTD to SAR139mn (EFGe: SAR180mn for 2016e). Al-Khodari also announced that it had secured an Islamic credit facility from a local bank, worth cSAR132.0mn to finance working capital for a number of projects, with durations ranging between 36 and 60 months. (Company disclosure)   Abdullah A. M. Al-Khodari Sons Company: SAR9.81 as of 25 August 2016, Rating: Sell, FV: SAR9.99 per share, MCap: USD146mn, ALKHODAR AB / 1330.SE 

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