Al Ahsa Development pays SAR 20.4 mln in Taqa capital increase

09/11/2015 Argaam

Al Ahsa Development Co., which invests in industrial and real estate sectors, said it has completed the payment for its 50 percent stake in the capital increase of Industrialization and Energy Services Co. (Taqa), the company said in a statement to the Saudi bourse, Tadawul.

 

Al Ahsa paid the remaining SAR 20.4 million from its own resources on Nov 9, it said, adding that the financial impact could not be assessed for the time being.

 

Last year, Taqa’s general assembly decided to increase the company’s capital to SAR 5 billion from SAR 2 billion, according to Argaam.

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