Saudi Fisheries seeks CMA approval on capital top-up via rights issue

08:40 AM (Mecca time) Argaam
Logo ofSaudi Fisheries Co.

Logo of Saudi Fisheries Co.

Saudi Fisheries Co. filed, on July 2, for the approval of the Capital Market Authority (CMA) regarding the company’s capital increase through a SAR 334.93 million rights issue, according to a statement to Tadawul.

Any developments in this regard will be announced later, the statement added.

 

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In February, the company’s board of directors recommended a capital increase through a rights issue at SAR 334.93 million, Argaam reported.

In January, shareholders approved the board recommendation to reduce capital by 83.25%, from SAR 400 million to SAR 66.99 million, to offset accumulated losses.

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