DUBAI, May 25 (Reuters) - Zain Saudi said on Thursday it had appointed Saudi Fransi Capital (SFC) as a financial advisor to assist the telecom operator in strengthening its financial position.
SFC will look at “all available options” which could include converting some of Zain Saudi’s liabilities to equity or rights issue or a capital reduction or a combination of these, according to a bourse statement.
Zain Saudi, 37-percent owned by Kuwait’s Zain Group , reported its first quarterly profit last month since launching in 2008.
SFC is the investment banking arm of Banque Saudi Fransi . (Reporting by Alexander Cornwell)