Riyadh - Mubasher: L'azurde Company for Jewelry has repaid a long-term credit facility worth SAR 75 million, using the proceeds from the rights issue capital increase.
The company said that the payment will contribute to lowering financing costs, which will have a positive impact on the company’s financial results from the second half (H2) of 2021, according to a bourse disclosure on Thursday.
It is noteworthy to mention that the main purpose of the rights issue is using proceeds in financing expansion plans in retail activities, cutting debt, and developing e-commerce platforms.
