Al Sorayai Trading and Industrial Group Co. submitted on Friday a request to increase capital through a rights issue to the Capital Market Authority (CMA), the company said in a bourse statement.
Any updates in this regard will be announced in a timely manner, the statement added.
The company’s board of directors previously recommended a SAR 112.66 million capital hike through a rights issue, according to data available on Argaam.
In August, Al Sorayai’s shareholders approved a 70.89 percent capital cut to SAR 65.5 million from SAR 225 million to offset accumulated losses.
Comments
{{DisplayName}}
{{ElapsedTime}}