Al-Omran Industrial submits request for capital increase via rights issue to CMA

12/12/2022 Argaam

Al-Omran Industrial submits request for capital increase via rights issue to CMA

Logo of Al-Omran Industrial Trading Co.

Al-Omran Industrial Trading Co. submitted yesterday, Dec. 11, a request to the Capital Market Authority (CMA) to increase its capital through a rights issue worth SAR 60 million.

 

It said, in a statement to Tadawul, that it will announce any future developments in this regard in due course.

 

Last August, the company's board of directors recommended to increase the company's capital by offering a SAR 60 million rights issue.

 

The capital top-up is aimed to support the company’s plans, reduce leverage, and develop its factories.

 

In September, Al-Omran  appointed Alinma Investment Co. as financial advisor to manage its rights issue.

 

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