Saudi Anaam International EGM approves 600% capital hike

Anaam International's new capital will total $28mln

  
Saudi traders are seen as they monitor stock information at the Saudi stock market in Riyadh, Saudi Arabia August 25, 2020. Image used for illustrator purpose

Saudi traders are seen as they monitor stock information at the Saudi stock market in Riyadh, Saudi Arabia August 25, 2020. Image used for illustrator purpose

REUTERS/Ahmed Yosri

Riyadh –  The extraordinary general meeting (EGM) of Anaam International Holding Group approved raising the company’s capital by 600% or SAR 90 million via a rights issue.

Hence, the new capital will total SAR 105 million, compared to a previous of SAR 15 million. A total of nine million ordinary shares will be offered and listed, according to a bourse disclosure on Wednesday.

The capital increase aims to finance and implement the company’s future plans and projects.

In case the company’s shareholders approved the raise during the EGM meeting, eligibility of the rights issue will be to the registered shareholders in the register of the Securities Depository Center Company (Edaa) at the end of the second trading day following the EGM meeting date, the statement noted.

Source: Mubasher

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