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MBCO members approve 291M riyals for paper mill
Shareholders of Mabaco Company approved the reallocating of 291.12 million riyals from the proceeds of the previous capital increase to finance the fifth paper machine (PM5) project for corrugated cardboard production. The purpose is to acquire existing facilities in the corrugated cardboard industry. The approval focused on allocating this amount to enhance the company's production capacity, with 96.61% of attending shareholders voting in favor during an electronically conducted meeting held on September 15, 2026. Additionally, shareholders approved paying an extra fee of 487.5 thousand riyals to Ernst & Young for the company's account audit.
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