|18 January, 2020

Saudi CMA approves Tihama's capital hike request

The increase will be limited to the shareholders who are registered in the shareholders' registry at the Security Depository Center

An investor gestures as he monitors a screen displaying stock information in Riyadh, Saudi Arabia, November 6, 2017.

An investor gestures as he monitors a screen displaying stock information in Riyadh, Saudi Arabia, November 6, 2017.

REUTERS/Faisal Al Nasser

Riyadh - The Saudi Capital Market Authority (CMA) has approved Tihama Advertising and Public Relations Company's request to increase its capital through a SAR 100 million rights issue.

The increase will be limited to the shareholders who are registered in the shareholders' registry at the Security Depository Center as of the closing of the second trading day after the company's extraordinary general assembly meeting (EGM), which will be determined by the Company's board of directors at a later date.

The offering price and the number of shares offered for subscription will be determined by the Company after the market closing of the same day in which the extraordinary general assembly meeting is to be held, according to a statement to the Saudi Stock Exchange (Tadawul) on Thursday.

© Mubasher 2020

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