Saudi Chemical subsidiary increases capital by 33%

03/02/2019 Argaam

 

Saudi Chemical Co. (SCC) said its subsidiary AJA Pharmaceutical Industries Co. increased capital by 33 percent from SAR 150 million to SAR 200 million.

 

The capital increase will go for financing the construction of the AJA pharmaceuticals plant in Hail, Saudi Chemical said in a bourse statement today.

 

The relevant financial impact will be reflected on earnings of Q1 2019, the statement added.

 

AJA is 95 percent-owned by SCC and 5 percent indirectly owned by SCC’s subsidiary Chemical Company for Commercial Investment Ltd.

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