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FINANCIAL NEWS
Saudi Kingdom Holding eyes bond sale
01 Mar 2012
(MENAFN) Kingdom Holding Co said that it plans to launch a bond sale after gaining the approval of shareholders, reported Reuters.
The company, which has never issued public debt before, added that it would seek shareholders approval at a meeting on March 27.
On the other hand, the company reported a fall of 19.9 percent in its fourth-quarter profit due to low performance by its associated hotels.
It is worth noting that Kingdom Holding is 95-percent owned by Saudi billionaire Prince Alwaleed bin Talal.
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