INSEAD Day 4 - 728x90

Business

Samsung biggest chip investor

The tech giant invested nearly $59.2bn in 2025.

flynas to set up new hub

Five destinations in first phase of operations.

AD Ports Group acquires CLI

CLI is Brazilian agri-bulk terminal operator.

$1.59bn Makkah project awarded

A consortium will develop two districts in the Holy City.

2PointZero posts profit surge

Growth driven by merger consolidation.

SPIMACO secures $335m loan

Set up in 1986, the pharma company is one of the biggest players in the Saudi medical sector. (SPIMACO)
By TRENDS Desk AFP
August 30, 2022 12:06 pm
  • The pharma company secured the shariah-compliant financing to grow the business
  • The firm obtained the facilities in the form of short-term loans to finance working capital needs, long-term loans for expansions and investments, and treasury facilities

Riyadh, Saudi Arabia— Saudi Pharmaceutical Industries and Medical Appliances Corporation (SPIMACO) has obtained a loan of $335 million from Bank Albilad, Gulf International Bank, and Banque Saudi Fransi.

The pharma company secured the shariah-compliant financing to grow the business.

The firm obtained the facilities in the form of short-term loans to finance working capital needs, long-term loans for expansions and investments, and treasury facilities, according to a bourse filing.

Bank Albilad, Gulf International Bank, and Banque Saudi Fransi were the sole financing entities of the transaction.

Established in 1986, SPIMACO is one of the biggest players in the Saudi medical sector, engaged in manufacturing and distributing pharmaceutical products and medical appliances.

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INSEAD Day 4- 300x600
INSEAD Day 4- 300x600
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