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Al-Kathiri Holding board plans capital hike

Al-Kathiri Holding board plans capital hike
The capital hike will be through offering right issues
ALKATHIRI
3008
19.34% 2.90 0.47

Riyadh - Mubasher: Al Kathiri Holding Company announced the Board of Directors’ recommendation to increase the capital to SAR 45.2 million, according to a correcting announcement to the Saudi Stock Exchange (Tadawul) on Sunday.

The capital hike will be through offering right issues, to support the expansion of the company's activities and provide working capital to enable the company to increase its operational capacity and support its future activities.

The company also revealed that it has appointed FALCOM Financial Services as the financial advisor for the offering, which is subject to the approvals of the Capital Market Authority (CMA) and extraordinary general assembly meeting (EGM).

The eligibility date for the rights issue will be for shareholders holding shares on the date of the EGM, and whose names so appear in the register of the Issuer's Shareholders at the Depository Center at the end of the second trading day following the date of the meeting.