Al Sorayai amends capital increase proposal

10/09/2018 Argaam

Al Sorayai Trading & Industrial Group Co.’s board of directors has amended its capital increase proposal to be either through a share swap, a rights issue or a share issuance in return for a debt payment.

 

The number of shares as well as the share price will be determined after obtaining the necessary regulatory approvals.

 

Adeem Capital was appointed to advise on the capital increase.

 

In May, Al Sorayai’s board of directors recommended a 100 percent capital hike to SAR 450 million from SAR 225 million through a rights issue.

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