Al-Sorayai Trading and Industrial Group’ shareholders are set to vote on capital hike to SAR 178.160 million from SAR 65.500 million, through rights issue worth SAR 112.660 million during the extraordinary general assembly meeting on Jan.22, 2020, according to a bourse filing on Tuesday.
On Dec. 25, Al-Sorayai received an approval from the Capital Market Authority (CMA) to increase its capital by SAR 112.660 million.
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Key Figures of the Capital Hike |
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Current Capital |
SAR 65.5 mln |
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Number of shares |
6.55 mln |
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Capital hike’s amount |
SAR 112.66 |
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New Capital |
SAR 178.16 |
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New number of shares |
17.82 mln |
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Owners of newly issued shares |
The second day after the extraordinary general meeting |
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Reason of Capital hike |
To raise the group’ solvency through restructuring and implementing a business plan focusing on its activities. |
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Capital hike’s way |
Through 11.27 rights issues |
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