Hundreds of aluminium ingots produced by the Maaden Aluminium Factory.
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Saudi Arabian Mining Co. is weighing a plan to raise as much as $5 billion through a rights offering that could be the biggest since mid-2018, according to sources with knowledge of the matter.company, also known as Maaden, is working with HSBC Holdings Plc's Saudi Arabia unit on the possible offering that could happen later this year, some of the sources said, speaking on condition of anonymity.The Public Investment Fund, which owns a 65 percent stake in the mining firm, would also participate in the rights issue through a debt-for-equity swap and exchange its loans to Maaden subsidiaries into equity, the sources said.Maaden, PIF and HSBC's Saudi Arabia unit all declined to comment.
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