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Al-Jawf seeks capital increase, clarifies rights suspension
Al Jouf Agricultural Development Company has officially submitted a request to increase its capital from 300 million riyals to 345 million riyals through the issuance of 4.5 million new shares, which will be fully allocated to Al Manajem Food Company. The new shares represent approximately 15% of the capital before the increase and 13.04% after its completion. The company is currently awaiting official approvals from the Capital Market Authority and the General Assembly to activate the process. This step is part of a binding subscription agreement with Al Manajem Food Company, and the company has confirmed that it will announce any updates regarding the request or the agreement as they develop.
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