AI Summary
Logo of Saudi Industrial Development Co. (SIDC)
Saudi Industrial Development Co.'s (SIDC) shareholders approved increasing capital by 122.22% through a SAR 165 million rights issue during the extraordinary general meeting (EGM) held on Nov. 6, the company said in a Tadawul statement.
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Capital Increase Details |
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Current Capital |
SAR 135 mln |
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No. of Shares |
13.5 mln |
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New Capital |
SAR 300 mln |
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New No. of Shares |
30 mln |
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Percentage of Increase |
122.22% |
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Par Value |
SAR 10 |
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Method |
Offering 16.5 million rights issue shares (SAR 10/share) at a total value of SAR 165 million |
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Reason for Increase |
Enable the company to implement its operational plans, support its working capital and enhance its financial position |
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Increase Date |
Nov. 6, 2025 (Shareholders 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.
Meanwhile, the Saudi Exchange (Tadawul) announced that the fluctuation limits for the company’s shares were calculated based on a price of SAR 18.28 for today, Nov. 9, and all existing orders have been cancelled.
The bonus shares will be deposited into shareholders’ portfolios before the start of trading on Nov. 11.
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