Saudi Paper appoints financial advisor to offer rights issue for capital raise

The company will submit the file to the Capital Market Authority (CMA) to request for the company's capital raise by offering rights shares

  
Traders work at the Alistithmar Capital in Riyadh July 8, 2008.

Traders work at the Alistithmar Capital in Riyadh July 8, 2008.

REUTERS/Fahad Shadeed
Riyadh –  Saudi Paper Manufacturing Company has appointed Al Anma Investment Company as the financial advisor to offer right issues to increase the company's capital.

The company will submit the file to the Capital Market Authority (CMA) to request for the company's capital raise by offering rights shares, according to a bourse filing on Thursday.

It is noteworthy to mention that in October 2021, the company's board recommended increasing the capital by SAR 145 million through a rights issue.

Source: Mubasher

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