Mayar calls off SAR 110M capital hike plan

30/05/2024 Argaam
Logo ofMayar Holding Co.

Logo of Mayar Holding Co.

Mayar Holding Co.’s board of directors decided on May 29 to call off a plan to raise the company’s capital through a SAR 110 million rights issue to reconsider the plan in light of the current variables and future needs.

 

Any update will be duly announced, Mayar said in a statement to Tadawul.

 

In January, Mayar withdrew the application to raise its capital increase via a rights issue to finalize some requirements, Argaam reported.

 

The rights offering plan was submitted by the company in December 2023.

 

This capital increase will help Mayar implement its strategic and operating plans, cut debts, boost future activities, access new fields and finance working capital.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.