Al Kathiri submits capital hike request to CMA

19/05/2020 Argaam

 

Al Kathiri Holding Co. submitted today a request to increase capital through a SAR 45.2 million rights issue to the Capital Market Authority (CMA).

 

The company appointed Falcom Financial Services as financial advisor for the offering, it said in a bourse statement on Tuesday.

 

Any related development will be announced in due course, the statement noted.

 

In Nov. 2019, Al Kathiri’s board of directors recommended capital hike by SAR 45.2 million.

 

The capital hike aims to support the company's expansions and boost working capital to increase its operating capacity and support future projects.

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