ACIG wants to increase its capital to SAR 291 million from SAR 141 million.
In January, ACIG board recommended reducing the company’s capital by 29.5% from SAR 200 million to SAR 141 million and then raising it by SAR 150 million, in a bid to offset accumulated losses.
In a separate statement, the Saudi Industrial Export Company (SIEC) said it submitted on 31 December 2020 a request to the CMA for a SAR 129.6 million capital increase by way of a rights issue.
The capital hike will support the company’s future expansion projects and help reduce its losses.
All Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. (Syndigate.info).