logo of Wafrah for Industry & Development Co.

Wafrah for Industry & Development Co.'s shareholders will vote on increasing capital through SAR 154.3 million rights issue, during an extraordinary general assembly meeting, to be held on June 14, the company said in a bourse filing.

 

Capital Hike Details

Current Capital 

SAR 77.17 mln

Number of Shares

7.72 mln shares

Increase%

200%

New Capital

SAR 231.51 mln

Number of Shares

23.15 mln shares
 

Rights Issue Details

Number of Shares Offered

15.43 mln shares

Offer Price

SAR 10/share

Size of Issue

SAR 154.3 mln

Record Date

Shareholders owning the shares on the EGM date and registered in the register of shareholders at Edaa by the end of second trading day after record date.
 

The company said that the capital increase aims to expand its activities, automate production lines and make the best of its brand spread to cover all areas in the Kingdom. It expects to obtain profits that enable it to achieve its objectives.

 

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