|06 November, 2019

Alasmak submits capital hike request to Saudi CMA

Alasmak’s board amended proposed hike to $106.66mln

Image used for illustrative purpose. A trader monitors stocks at a Saudi Bank in Dammam October 26,2008.

Image used for illustrative purpose. A trader monitors stocks at a Saudi Bank in Dammam October 26,2008.

REUTERS/Stringer

Riyadh –  Saudi Fisheries Company (Alasmak) has submitted a request for the increase of its capital by offering right issues to the Capital Markets Authority (CMA), according to a bourse statement released on Wednesday.

Last month, Alasmak’s board amended its capital hike recommendation to SAR 400 million from SAR 101.1 million through a SAR 298.9 million rights issue.

Alasmak appointed FALCOM Financial Services (FALCOM) as a financial advisor In April to manage its rights issue for its capital raise.

Source: Mubasher

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