SAFCO shareholders to vote on capital hike on Nov. 18

27/10/2020 Argaam

Saudi Arabian Fertilizer Co. (SAFCO) shareholders are set to vote on a 14.25% capital increase to SAR 4.76 billion from SAR 4.17 billion during the extraordinary general meeting on Nov.18, 2020.

 

The capital hike will take place through issuing 59.4 million ordinary shares at SAR 10 par value each.

 

The move aims to fund the acquisition of SABIC Agri-Nutrients Investment Co. (SANIC) from Saudi Basic Industries Corporation (SABIC).

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