Ladun OKs Built Industrial’s SAR 100M capital hike in run-up to TASI listing

Logo of Ladun Investment Co.

Ladun Investment Co.’s board of directors approved the capital boost of Built Industrial Co., a subsidiary, from SAR 500,000 to SAR 100 million, comprising a SAR 39.5 million cash injection and converting SAR 60 million of the latter’s obligations to Ladun, adhering to regulatory requirements.

This move aligns with Ladun’s strategy to support Built Industrial’s expansion and strengthen its financial position by 2027 after listing on the Main Market (TASI), pending necessary due diligence and approvals.

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Separately, Ladun’s board approved a capital hike for Painite Operation & Maintenance Co. from SAR 300,000 to SAR 10 million, in adherence to the respective regulations.

This aligns with Ladun’s plan to fortify its facility management arm, Painite, amid rising sector demand for high-level expertise.