Bawan Engineering to increase capital to SAR 50 million

17/06/2014 Argaam

Saudi-listed Bawan Company said its subsidiary Bawan Engineering Industries will increase its capital from SAR 500,000 to SAR 50 million.

The increase, aimed to develop the company’s business, will be financed from partners’ own resources, the company said in a filing on Tadawul.

Bawan Engineering Industries is 95 percent owned by parent Bawan, with an indirect five percent stake owned by sister Bawan Metal Industries

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