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Follow on Google News | Al-FARIS (Optimiza) raises 10M JD in new capitalEmerging with a solid balance sheet to match improving performance
By: Optimiza The CEO of Optimiza, Majed Sifri, said "For the past few years all of the losses that Al-Faris incurred were due to financing obligations and interest payments to banks, as well as impairments. This transaction contributes directly to solidifying the Company's balance sheet — settling most of its obligations to the banks– enabling the company to better manage its operations, growth and improve profitability" The increase of the Company's capital to JD16 million includes strong presence of Consolidated Contractors Company Ltd. Jordan, and Al Nameer Investment Company with a 15.62 per cent and 45.73 per cent stake in the company. In addition, the transaction brings in new strategic partners; Farah Capital Ltd., Mr. Said L. S. Baransi, and Arab Palestinian Investment Holding Company (APIC), as major shareholders with a 12.5 per cent, 10 per cent, and 2.2 per cent stake respectively. –Ends– About Optimiza Al-Faris National Investment Group, brand named Optimiza , is a leading publicly-listed regional ICT systems integrator (ASE:CEBC) End
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