Riyadh – Mubasher: The board of directors of Saudi Fisheries Company (Alasmak) has amended its capital hike recommendation to SAR 400 million from SAR 101.1 million through a SAR 298.9 million rights issue.

The decision was based on a study performed by a consultancy house and aimed to serve the company’s benefits, according to the company’s statement to the Saudi Stock Exchange (Tadawul) on Tuesday.

Alasmak has appointed Falcom Financial Services as a financial advisor for the capital hike.

Moreover, it will submit the related file to the Capital Market Authority (CMA) later on.