Al-Munajjim invests in Al-Jawf

Al Jouf Agricultural Development Company, a Saudi firm, has signed a binding subscription agreement with Al Manjam Food Company. Under this agreement, Al Manjam will acquire a minority stake by increasing the company's capital. Al Manjam will subscribe to 4.5 million shares at a price of 52.5 riyals per share, which will increase Al Jouf's capital from 300 million riyals to 245 million riyals, representing a 15% increase in capital. This step requires approval from the Capital Market Authority and other relevant authorities. After obtaining these approvals, an extraordinary general assembly will be convened to vote on the agreement. This investment reflects a long-term strategic move to strengthen Al Manjam's presence in the Saudi market.

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