Riyadh – Mubasher: Raydan Food Company has submitted a request to the Capital Market Authority (CMA) on 30 December for a SAR 112.5 million capital raise by way of a rights issue.

FALCOM Financial Services has been appointed as a financial adviser to the offering, according to a bourse statement on Thursday.

In September, the firm’s board recommended increasing the company’s capital through a rights issue to provide the required working capital to raise the operating capacity and support the company’s future activity.