Etihad Atheeb shareholders reject capital hike through SAR 250 mln rights issue

Logo of Etihad Atheeb Telecommunication Co. (GO)

Etihad Atheeb Telecommunication Co. (GO) shareholders disapproved increasing capital through a SAR 250 million rights offering, during the extraordinary general meeting (EGM) held on March 8, the telco said in a statement to Tadawul.

Shareholders, however, approved amending Articles 7 and 8 of the company’s bylaws related to the company’s capital and shares subscription.

In October 2022, Etihad Atheeb’s board of directors amended its recommendation to a SAR 250 million rights issue to raise capital to SAR 340 million, instead of a previous proposal for a SAR 350 million rights issue, Argaam earlier reported.