Tihama seeks regulatory approval on capital increase

06/11/2019 Argaam

 

Tihama Advertising & Public Relations Co. has submitted a capital increase request to the Capital Market Authority (CMA), the company said in a bourse filing.

 

In March, the company’s board of directors recommended a capital increase via a SAR 100 million rights issue.

 

The capital increase, which is pending regulatory approvals, will go for financing expansions, in addition to offsetting the accumulated losses.

 

Tihama appointed Falcom Financial Services to advise on the rights issue.

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