Mayar withdraws capital hike application to complete CMA requirements

21/01/2024 Argaam

Mayar withdraws capital hike application to complete CMA requirements

Logo of Mayar Holding Co.

Mayar Holding Co. withdrew the application to raise its capital increase via a rights issue to finalize the requirements imposed by the Capital Market Authority (CMA), the company said in a statement to Tadawul today, Jan. 21.

 

The company submitted, on Dec. 6, 2023, an application to CMA to raise its capital through a rights issue worth SAR 110 million, according to Argaam's data.

 

This capital increase will help Mayar implement its strategic and operating plans, cut debts, boost future activities, access new fields and finance working capital.

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