Anaam International Holding Group’s board of directors, in a meeting on Monday, Feb. 8, 2021, recommended increasing the company’s capital through rights issue of SR 210 million ($55.98 million), according to a bourse statement.
The company aims to use the funds to finance and implement its future plans and projects, expand its activities, acquire profitable assets and purchase or invest in companies and income-generating assets.
Shareholders of record on the date of the extraordinary general assembly meeting (EGM), during which the decision to increase capital is approved, are eligible, in addition to those registered at the Securities Depository Center Co. (Edaa) at the end of the second trading day following the meeting.
Wasatah Capital has been appointed as the financial advisor for the offering.
The date for the submission of the capital increase application file to the Capital Market Authority (CMA) will be announced later. Any related developments will be announced in due course.
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