|11 July, 2019

Saudi Maaden seeks CMA’s approval for capital increase

Saudi Arabian Mining Company will raise its capital through conversion of debt

Image used for illustrative purpose. A view shows Maaden Aluminium in Ras Al Khair, Saudi Arabia May 22, 2016.

Image used for illustrative purpose. A view shows Maaden Aluminium in Ras Al Khair, Saudi Arabia May 22, 2016.

REUTERS/Faisal Al Nasser

Riyadh –Saudi Arabian Mining Company (Maaden) has submitted a capital increase request to the Capital Market Authority (CMA).

The company will raise its capital through conversion of debt held by the Public Investment Fund, according to the company’s statement to the Saudi Stock Exchange (Tadawul) on Thursday.

Maaden noted that it will announce in due course any details and further information related to this matter.

Source: Mubasher

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