SIDC EGM to vote on capital hike via SAR 165M rights issue on Nov. 6

16/10/2025 Argaam
Logo ofSaudi Industrial Development Co. (SIDC)

Logo of Saudi Industrial Development Co. (SIDC)

Saudi Industrial Development Co.'s (SIDC) shareholders, in an extraordinary general meeting (EGM) set to be held on Nov. 6, will decide on increasing capital through a SAR 165 million rights issue, the company said in a Tadawul statement.

 

Capital Increase Details

Current Capital

SAR 135 mln

No. of Shares

13.5 mln

New Capital

SAR 300 mln

New No. of Shares

30 mln

Percentage of Increase

122.22%

Par Value

SAR 10

Method

Offering 16.5 million rights issue shares at a total value of SAR 165 million.

Reason for Increase

Enable the company to implement its operational plans, support its working capital and enhance its financial position.

Increase Date

Shareholders of record at the end of trading on the day of the company’s EGM, and those registered with Edaa at the end of the second trading day following the EGM
 

According to Argaam's data, SIDC shareholders approved, in September 2024, the board’s proposal to cut capital by 66.25% from SAR 400 million to SAR 135 million, through the cancellation of 26.5 million shares to amortize accumulated losses.

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