Fakharia General Assembly to Review Capital Boost
The Saudi Ceramic Pipe Company has proposed increasing its capital by 53.33%, from 150 million riyals to 230 million riyals, through the issuance of rights shares. This move aims to address accumulated losses exceeding 50% of its capital and to support its growth and expansion strategy in the production of cementitious and plastic products. The extraordinary general assembly meeting is scheduled for July 12, 2026, to approve the increase. Part of the liquidity will be allocated to settle financial obligations and strengthen the company's financial position. Additionally, the company plans to amend its bylaws to comply with the new requirements and to expand the authorities of the Board of Directors.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)