Arabica Star shareholders to vote Sept. 21 on reallocating SAR 16M IPO proceeds

31/08/2025 Argaam
Logo ofArabica Star Co.

Logo of Arabica Star Co.

Arabica Star Co.’s shareholders will vote during the ordinary general meeting (OGM) to be held on Sept. 21, on the board of directors’ recommendation to reallocate the IPO proceeds of SAR 16 million, as stated in the prospectus, to be fully used in expanding the company’s business.
 
 

According to a statement to Tadawul, the OGM’s agenda also includes voting on the election of board members from among the candidates for the upcoming four-year term, starting Sept. 22, 2025.

 

The company’s OGM, held in June, rejected the board’s recommendation to reallocate the IPO proceeds of SAR 16 million to be fully used for business expansion, Argaam earlier reported.

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