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Al-Jouf proposes 15% capital rise for Al-Minhaj
The Board of Directors of Al Jouf Agricultural Development Company has recommended increasing the company's capital by 15%, through the issuance of 4.5 million new shares with a total value of 236.25 million Saudi Riyals, allocated to Al Munajem Food Company, at an offering price of 52.5 Riyals per share. This increase aims to support the company’s strategy to transition from traditional agricultural activity to an integrated industrial agricultural model, with a focus on developing infrastructure and enhancing capabilities in food manufacturing and value-added products. The implementation of this increase is subject to the approval of the General Assembly and relevant regulatory authorities, with an expected ownership in the company by Al Munajem to reach approximately 20.3% after the subscription.
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