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Al-Jawf joins Al-Manajem's capital increase
Al Jouf Agricultural Development Company announced the signing of a binding subscription agreement with Al Munajem Foods Company to increase its capital from 300 million SAR to 345 million SAR, representing a 15% increase. Al Munajem, which is considered a strategic investor affiliated with the company, will subscribe to all the new shares totaling 4.5 million shares at a price of 52.5 SAR per share, for a total value of 236.25 million SAR. The transaction requires approval from the Capital Market Authority and the extraordinary general assembly, as it will involve amending the company's bylaws and reducing the number of board members from seven to six. The objective of the agreement is to develop the partnership and strengthen the company's capital base.
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