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Saudi Cable plans SAR 360m capital increase

Saudi Cable plans SAR 360m capital increase
FALCOM Financial Services was appointed as a financial advisor to the offering transaction.
SAUDI CABLE
2110
-6.79% 57.15 -4.17

Riyadh – Mubasher: Saudi Cable Company’s (SCC) board recommended increasing the company’s capital by SAR 360 million by way of a rights issue.  

The capital hike aims to restructure the company’s capital and pump new funds to help the company raise its operational capacity and support its future activity, according to a stock exchange statement on Thursday.

FALCOM Financial Services was appointed as a financial advisor to the offering transaction. The capital increase will be subject to the approvals of official relevant authorities and the extraordinary assembly.