The Clap
Professional Medical Expertise Company (ProMedEx) revealed the renewal and increase of its financial facilities contract with Banque Saudi Fransi (BSF)
What
ProMedEx, which is newly listed on the “Nomu” parallel market, renewed its facilities from the previous year with a total amount of SAR 40 million.
It also approved an increase of SAR 10 million, bringing the total value to SAR 50 million.
So What
These facilities constitute a multi-purpose contract (with diverse limits) that allows the company to use the appropriate limit according to its needs and the requirements of the Saudi market. This is to cover its current and future projects.
ProMedEx obtained the financing on September 17 and it will be valid for use until August 31, 2024.
Now What
The funding aims to sustain the company and expand its business. In addition to financing purchase orders related to suppliers for importing goods and covering the issuance of final guarantees for local projects.
