Abdullah A. M. Al-Khodari Sons Co. said the board, in a meeting held on Nov. 24, 2014, recommended a capital increase through a rights issue, with a total value of SAR 500 million.
This proposal is subject to the approval of competent regulatory authorities and the extraordinary meeting on the capital increase.
The capital increase is to expand the company’s business and fund its expected projects.
Shareholders of record until the close of trading on the meeting date are eligible for this rights issue.
The meeting date will be unveiled later on.