Anaam Holding BOD recommends increasing capital through rights issue of SR157.5 mln

Anaam International Holding Group announced on Tuesday the Board’s recommendation to increase the capital by offering right issues. The target amount is SR157,500,000.
This is to finance working capital, reduce lending rates and support the company’s future activities.
It added that the eligibility would be for the shareholders owning the shares on the day of the extraordinary general assembly which decided to increase the capital by offering rights shares and whose names appear in the issuer’s shareholder register at the Depository Center at the end of the second trading day following the date of the assembly. The financial brokerage company (Wasata Capital) was appointed as a financial advisor to subscribe and submit a capital increase request file to the Authority.
The company said in a statement on Tuesday on Tadawul that any developments in this regard will be announced later