Sadr Logistics shareholders to vote on SAR 150 mln rights issue on Dec. 1

Sadr Logistics Co.’s shareholders will vote on increasing capital through rights issue worth SAR 150 million, during the extraordinary general assembly meeting to be held on Dec. 1, according to a bourse filing.

Capital will be increased to SAR 175 million, through offering 15 million rights issue shares, at a nominal value of SAR 10 each.

The capital hike is aimed to enable the company to implement its strategic and operational plans and to support the expansion of logistic services.

Eligibility for the rights issue shares will be for the shareholders who own the shares on the day of EGM who are registered in the company’s shareholders register at the Securities Depository Center (Edaa) at the end of the second trading day following the EGM date.