ASG approves raising subsidiary capital

Logo of ASG Plastic Factory Co.

ASG Plastic Factory Co.’s board of directors approved, on March 31, raising the capital of its wholly-owned subsidiary, ASK Pipes Co. from SAR 250,000 to SAR 15 million.

In a statement to Tadawul, the company said the increase will be implemented by capitalizing the balance owed to a related party (the parent company) from the subsidiary, amounting to approximately SAR 14.65 million as of Dec. 31, 2025.

An additional SAR 104,610 from retained earnings will also be capitalized, bringing the total capitalized amount to SAR 14.75 million.

ASG stated that the move aims to strengthen the subsidiary’s financial position and support its operational and strategic plans more efficiently.