Amiantit gets CMA approval on capital top-up

25/01/2024 Argaam
Logo ofSaudi Arabian Amiantit Co.

Logo of Saudi Arabian Amiantit Co.

Saudi Arabian Amiantit Co. obtained on Jan. 24 the approval of the Capital Market Authority (CMA) on a request to increase capital through a rights issue, according to a statement to Tadawul.  

 

Capital will be raised from SAR 99 million to SAR 445.5 million. Thus, the number of shares will rise by 34.6 million from 9.90 million shares to 44.55 million shares, the statement added.  

 

The no-objection came after Amiantit fulfilled all requirements related to the capital increase file. The necessary relevant procedures are still pending, including publishing the rights issue prospectus and convening an extraordinary general meeting to vote on the move.

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