Arabica Star shareholders OK reallocation of SAR 16M IPO proceeds

22/09/2025 Argaam
Arabica Star also elect board members for new term

Arabica Star also elect board members for new term

Arabica Star Co.'s shareholders approved on Sept. 21 the board’s proposal to reallocate SAR 16 million in offering proceeds, as outlined in the prospectus published on Dec. 5, 2024, to be fully directed toward expanding the company’s operations.

 

 

According to a statement to Tadawul, the company also pointed out that shareholders approved the election of the new board for the upcoming four-year term, starting Sept. 22, 2025.

 

The new members include Abdulaziz Al-Muqaitib, Mohammed Al Hamoud, Yasser Al Hamoud, and Muhammad Al Arfaj.

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