9 Hrs
Source:
الاقتصادية
Al-Jawf proposes 13% capital hike for Al-Majam
Al Jouf Agricultural Development Company has decided to increase its capital by 15% through the issuance of 4.5 million ordinary shares with a nominal value of 10 Riyals each, at an offering price of 52.5 Riyals per share. The total value of this issuance amounts to 236.25 million Riyals, aimed at supporting its strategy and transitioning into an integrated agricultural-industrial activity. The new shares will be allocated to Al-Munajem Company, which will hold a 20% stake in the company after the increase. This step comes to enhance its capabilities in food manufacturing and value-added products. The increase is subject to approvals from the competent authorities, and certain prior conditions related to internal approvals and compliance with financial market regulations must be met.
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