Ash-Sharqiyah submits capital increase file to CMA

Ash-Sharqiyah Development’s logo

Ash-Sharqiyah Development Co. submitted, on Sept. 2, the file to increase its capital through rights issue to the Capital Market Authority (CMA) for approval, according to a bourse filing.

Any further developments in this regard will be announced in due course, the firm said.

In December 2020, Ash-Sharqiyah’s board of directors recommended a capital increase through a rights issue of SAR 225 million, Argaam earlier reported.

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