Anaam International Holding Group, which is engaged in food, agricultural, and real estate businesses, recommended on Wednesday a SAR 110 million rights issue to raise its capital, subject to obtaining regulatory approval.
Capital hike proceeds will likely go towards future expansions in refrigerator rentals and third-party central warehouses.
This marks Anaam’s fifth proposal for a capital increase over the past five years, during which the company had recommended three rights issues and a bonus share distribution.
The company obtained approval from the Saudi Capital Market Authority only twice.
|
Capital Raise Details |
|||
|
Notes |
Value (SAR mln) |
Details |
Date |
|
-- |
110 |
Rights issue |
April 30, 2015 |
|
Approved |
10% |
Dividend |
March 4, 2013 |
|
Not approved |
180 |
Rights issue |
Feb. 25, 2013 |
|
Approved |
87 |
Rights issue |
Nov. 8, 2012 |
|
Not approved |
80 |
Rights issue |
April 11, 2011 |
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