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1633169085428428100
Sat, 2021-10-02 12:59
RIYADH: The National Metal Manufacturing and Casting Company (Maadaniyah) will increase its capital by 51.3 percent to SR354 million ($94.3 million), through a rights issue, Argaam reported.
The Saudi Capital Market Authority (CMA) had approved on Sept. 14, 2021, the company’s request to increase its capital through a rights issue with a value of SR120 million ($31.9 million) and an offering price of SR10 per share.
The main goal from this increase is to raise its financial solvency and reduce borrowing rates and costs incurred from them.
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Saudi Real Estate Co. proposes capital raise via priority rights issueAnaam recommends capital hike through $55.98m rights issue