Saudi Arabia’s Anaam International Holding Group has announced its board recommendation to increase capital by SAR 210 million ($56 million) to finance future projects, acquisitions and investments.

The company told the Saudi Stock Exchange (Tadawul) on Tuesday that its board had recommended increasing capital by offering right issues, targeting SAR 210 million ($56 million).

The holding company, which has food, agriculture and estate development businesses, has seen its share price increase by 9.91 percent today.

(Writing by Imogen Lillywhite; editing by Seban Scaria)

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