CMA approves Al Kathiri’s capital hike through rights issue

The Capital Market Authority (CMA) approved Al Kathiri Holding Co.’s request to increase capital by SAR 45.21 million through a rights issue.

The increase will be limited to the shareholders who are registered in the shareholders registry at the Securities Depository Center as of the closing of the second trading day after the extraordinary general assembly meeting, the regulator said in a statement.

The offering price and the number of shares offered for subscription will be determined by the Saudi-listed firm after market closing of the same day the extraordinary general assembly meeting is to be held.

The rights issue prospectus will be posted and made available to the public later, the statement added.

In November 2019, Al Kathiri’s board of directors recommended a capital hike through a SAR 45.2 million rights issue, according to data available on Argaam.

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