One of the branches of Raydan Food
Raydan Food Co. submitted its request to increase capital through rights issue to the Capital Market Authority (CMA) on Wednesday, Dec. 30, 2020, the company said in a statement to Tadawul.
Any updates will be announced in a timely manner, the statement added.
The company’s board of directors recommended on Sept. 8, 2020, a capital hike through SAR 112.5 million rights issue, according to data available with Argaam.
The capital hike aims to finance the company’s future plans and expansions. It also aims to inject fresh funds to finance working capital and boost operating capacity.
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