Saudi Paper appoints Alinma Investment as financial advisor for rights issue

02/12/2021 Argaam

Logo of Saudi Paper Manufacturing Co.

Saudi Paper Manufacturing Co. (SPM) appointed Alinma Investment as financial advisor for its planned rights issue, the company said in a statement to Tadawul.

 

Announcements will be made later upon submitting the capital increase application to the Capital Market Authority (CMA) for approval.

 

Future developments will be announced in due course, the paper manufacturer concluded.

 

In October, SPM board of directors recommended increasing the company's capital through SAR 145 million rights issue, Argaam reported.

 

The capital increase aims to support the company’s expansions and boost working capital to increase operational capacity and support future activities.

 

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