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Al Samaani Factory mulls SAR 150m capital hike

Al Samaani Factory mulls SAR 150m capital hike
The capital raise will help the company implement its strategic and operational plans.
SADR
1832
-82.14% 78.40 -360.60

Riyadh – Mubasher: Al Samaani Factory for Metal Industries Company’s board proposed increasing the company’s capital by SAR 150 million via a rights issue.

The capital hike aims to help the company implement its strategic and operational plans while supporting the expansion of logistics services, according to a bourse disclosure on Monday.

The capital increase will be subject to the approvals of relevant official authorities and the extraordinary general meeting (EGM).