Al Babtain Power and Telecommunication company announces increase the capital of one of its subsidiaries in Kingdom of Saudi Arabia
| Element List | Explanation |
|---|---|
| Announcement Detail | The shareholders in Al Babtain Metalogalva (limited liabilities mixed company one of al Babatain power and telecommunication company subsidiaries owned 60%) by circulation decision dated 24.10.2022 to increase the capital of Al Babtain Metalogalva limited Company from SR (18) Million to SR (21,3) Million by increasing amount SR (3,3) million, this increasing will be through decrease the current account of shareholders as per their percentage in the company capital.
The aim of this increase to support the finance position of subsidiary company and development its activities in addition to develop it business. The capital increase is under condition of approval of regulatory bodies. |
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