AYYAN board proposes SAR 200 mln rights issue to raise capital

28/08/2023 Argaam
Logo of AYYAN Investment Company

Logo of AYYAN Investment Company

AYYAN Investment Co.’s board of directors recommended on Aug. 27 increasing the company’s capital through a SAR 200 million rights offering.

 

The capital increase will help AYYAN put its operating plans into effect and support working capital, the company said in a statement to Tadawul.

 

Shareholders of record on the extraordinary general meeting (EGM) date, and those registered with the Securities Depository Center (Edaa) on the second trading day following the meeting date are eligible for this increase.

 

The decision is subject to approvals from the relevant authorities and the company shareholders.

 

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