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Fakhariya GA Approves 53% Capital Rise
The Board of Directors of the Saudi Pipe Company has recommended that shareholders participate in the Extraordinary General Assembly meeting scheduled for July 12, 2026, to discuss increasing the company's capital by 53.33% from 150 million riyals to 230 million riyals through a rights issue. The purpose of the increase is to address accumulated losses that have exceeded 50% of the capital, to support growth strategies and diversify the product range, as well as to allocate liquidity for settling financial obligations, funding equipment purchases, and supporting operational activities. The agenda will include voting on the appointment of a new independent member and amendments to the company's bylaws to enhance the powers of the Board of Directors.
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