Riyadh – Mubasher: The Capital Market Authority (CMA) has approved the Saudi Paper Manufacturing Company’s request to increase its capital by SAR 145 million by way of a rights issue.

The CMA granted its approval after the Tadawul-listed company fulfilled all the conditions and requirements for the capital raise file, according to a recent bourse statement. 

In May 2022, Saudi Paper submitted its capital increase request to the CMA following the board’s recommendation to raise the capital to SAR 337 million from SAR 192 million to support the company's expansion plans and future business.