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Anaam International EGM approves 600% capital hike

Anaam International EGM approves 600% capital hike
Anaam International's new capital will total SAR 105 million.
ANAAM HOLDING
4061
-4.19% 183.00 -8.00

Riyadh – Mubasher: The extraordinary general meeting (EGM) of Anaam International Holding Group approved raising the company’s capital by 600% or SAR 90 million via a rights issue.

Hence, the new capital will total SAR 105 million, compared to a previous of SAR 15 million. A total of nine million ordinary shares will be offered and listed, according to a bourse disclosure on Wednesday.

The capital increase aims to finance and implement the company’s future plans and projects.

In case the company’s shareholders approved the raise during the EGM meeting, eligibility of the rights issue will be to the registered shareholders in the register of the Securities Depository Center Company (Edaa) at the end of the second trading day following the EGM meeting date, the statement noted.