Mayar names Afaq Capital as financial advisor for rights issue

06/11/2023 ِArgaam
Logo ofMayar Holding Co.

Logo of Mayar Holding Co.

Mayar Holding Co. appointed Afaq Capital as a financial advisor to manage the subscription to rights issue offering, the company said in a statement to Tadawul today, Nov. 6. 

 

The company will announce upon submitting the capital increase application to the Capital Market Authority (CMA). 

 

Any material updates will be announced duly. 

 

Mayar's board of directors recommended, on Oct. 29, to increase the company’s capital through a SAR 110 million rights issue for implementing its strategic and operating plans, cut debt, boost future activities, access new fields and finance working capital, according to Argaam's data. 

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