Amiantit issues prospectus for SAR 120 mln rights issue

04/11/2020 Argaam

Saudi Arabian Amiantit Co. (Amiantit) announced it issued the prospectus for its planned rights issue worth SAR 120 million.

 

The prospectus will be available for review on the website of the Capital Market Authority (CMA), it noted.

 

The rights issue is subject to the approval of the extraordinary general assembly meeting, to be held on Dec. 1, 2020, according to the company.

  

Amiantit obtained the market regulator’s approval on Oct. 1, 2020 to reduce its capital to SAR 200 million (20 million shares) from SAR 344.52 million (34.45 million shares). The CMA also approved the company’s rights issue.

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