Amiantit submits capital hike request via rights issue to CMA

03/10/2023 Argaam
Logo ofSaudi Arabian Amiantit Co.

Logo of Saudi Arabian Amiantit Co.

Saudi Arabian Amiantit Co. submitted, on Oct. 2, a request to the Capital Market Authority (CMA) to increase capital through a rights issue.

 

In a statement to Tadawul, Amiantit pointed out that the capital hike is subject to the related regulatory and shareholders’ approvals.

 

Any material developments in this regard will be announced in due course as per the applicable laws, the statement added.

 

The company’s board recommended, on Sept. 13, increasing capital through a SAR 346.5 million rights offering, Argaam earlier reported.

 

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