SIDC’s subsidiary to raise capital to SAR 100 mln

25/10/2018 Argaam

 

Saudi Industrial Development Co. (SIDC) said that the partners at The Global Marketing Co. for Sleeping System (Sleep High), a 100 percent directly and indirectly owned subsidiary, approved a capital increase from SAR 81.3 million to SAR 100 million.

 

The process will take place through issuing new shares to existing partners, SIDC and SIDC Commercial Investment Co., the Saudi-listed firm said in a bourse statement.

 

The capital hike, which intends to support the company’s growth and financial position, will be financed from retained earnings, the statement added.

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.