Logo of Al-Hammadi Holding Co.
Shareholders of Sudair Pharmaceuticals Co., a closed joint-stock company that is 35% owned by Al Hammadi Holding Co., approved the increase in the subsidiary's capital by SAR 116 million from SAR 57 million to SAR 173 million.
The decision was made during an extraordinary general assembly meeting held on Jan. 8, according to a statement to Tadawul.
The capital increase will be carried out through a transfer from shareholders' current balance according to each shareholder's capital share, Al Hammadi said, noting that the capital hike is pending regulatory approvals.
The move aims to support the financial position of the affiliate, as well as to foster the growth and development of its business, the company added.
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