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Avalon Pharma obtains SAR 70m from Emirates NBD

Avalon Pharma obtains SAR 70m from Emirates NBD
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Emirates NBD
EMIRATESNBD
-2.08% 25.95 -0.55
AVALON PHARMA
4016
-3.04% 117.90 -3.70

Riyadh – Mubasher: Middle East Pharmaceutical Industries Company (Avalon Pharma) secured a Sharia facility amounting to SAR 70 million from Emirates NBD on 8 July 2024.

The Saudi company obtained the loan for one year to finance its operations, according to a bourse disclosure.

The one-year agreement is secured by a promissory note for the full value of the loan.

Avalon Pharma listed its shares on the Main Market of the Saudi Exchange (Tadawul) on 27 February.