Al-Jawf proposes 15% capital increase for Al-Munajm
Al Jouf Agricultural Development Company recommends increasing its capital by 15%, amounting to 236.25 million riyals, through the issuance of 4.5 million new shares to Al Manajem Food Company, without preferential rights for current shareholders. This move aims to support its strategic shift towards an industrial agricultural model and the development of the food manufacturing sector. Al Manajem Food Company will fully subscribe to the new shares, which will raise its ownership stake in the company to approximately 20.3% after implementation, subject to approval by the Extraordinary General Assembly and regulatory authorities. The increase is intended to enhance the company's capabilities in value-added products, and the process will be carried out after completing all official procedures.
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