Al-Babtain Power and Telecommunication Co.’s board of directors approved on Wednesday raising the capital of INARA Co. Ltd., a wholly owned subsidiary, to SAR 8.4 million from SAR 1 million, the company said in a bourse statement.
The capital hike, which will be financed from retained earnings, aimss to support the company’s financial position and develop its activities, the statement added.
The process is pending the required regulatory approvals.
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