Lazurde Company for Jewelry appointed today, Oct.20, Samba Capital & Investment Management Co. (Samba Capital) as a financial advisor to manage subscription to rights issue, it said in a bourse filing.
The company will announce later the submission of the capital increase application file to the Capital Market Authority (CMA), it said, adding that any future developments in this regard will be revealed in due course.
According to data compiled by Argaam, Lazurde’s board of directors recommended, on Oct. 11, a capital increase through a SAR 143.33 million rights issue to support future expansion activities as well as provide working capital to increase operational capacity and reduce debt-to-equity ratio.
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