GACO recommends SAR 100 mln rights issue

18/06/2019 Argaam

Al Gassim Investment Holding Co.’s (GACO) board of directors has recommended a capital hike through a SAR 100 million rights issue, the company said in a bourse statement.

 

The capital hike aims to support the expansion in company’s activities.

 

The process is pending approvals from the general assembly and regulator.

Shareholders of record on the second day after the extraordinary general meeting will be entitled to subscribe to the offering.

 

The company has named Wasatah Capital as financial advisor for the offering, the statement added.

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