Batic seeks regulatory approval on SAR 300 mln capital increase

15/07/2021 Argaam

Logo of Batic Investments and Logistics Co.

Batic Investments and Logistics Co. applied, on July 14, for the Capital Market Authority’s (CMA) approval of its capital increase request, according to a bourse filing.

 

Any future developments will be announced in due course, the statement noted.

 

In April 2021, the company’s board of directors recommended a capital increase from SAR 300 million to SAR 600 million via SAR 300 million rights issue, Argaam reported. The capital hike will be used to finance plans and expansions.

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