SVCP BOD recommends increasing the capital through issuing priority rights shares

Saudi Vitrified Clay Pipe co. announced the Board of Directors’ recommendation to increase the capital through issuing priority rights shares, indicating that the total amount to be obtained is 80 million riyals.

According to the statement published on “Tadawul”, issuing priority rights shares will allow the pottery company to consolidate its growth strategy of diversifying its products by expanding the cement products industry for the Saudi Land Factory and also establishing a high-density plastic products factory, the signing of which was announced on 02/14/2024 AD, supporting its operations and strengthening its financial position.

The eligibility will be for shareholders who own shares on the day of the Extraordinary General Assembly meeting that decided to increase the capital through issuing priority rights shares and whose names appear in the issuer’s shareholders’ register at the Depository Center at the end of the second trading day following the date of the meeting.