Lazurde approves capital hike to SAR 575 mln via rights issue

Logo of Lazurde

Lazurde Company for Jewelry’s shareholders approved the board of directors’ recommendation to increase capital to SAR 575 million through a rights issue worth SAR 145 million, during the extraordinary general assembly meeting (EGM) held on June 2, 2021.

The company said in a bourse statement that shareholders approved the board of directors’ recommendation to withhold dividend for 2020.

Meanwhile they authorized the board to distribute interim dividend on a semi-annual or quarterly basis for 2021 and determine the due and disbursement date in accordance with the regulatory rules and procedures issued in implementation of the Companies Law.

In a separate statement, the Saudi Stock Exchange (Tadawul) announced Lazurde’s daily trading fluctuation limit after its capital hike will be based on a share price of SAR 20.74.

All outstanding orders will be cancelled.

The Securities Depository Center (Edaa) will deposit the rights into the investor’s portfolios by June 7, the statement said.

For More IPOs