SIECO gets CMA nod on capital hike through SAR 172.8 mln rights issue

17/03/2022 Argaam

Logo of Saudi Industrial Export Co.

Saudi Industrial Export Co. (SIECO) obtained the approval of the Capital Market Authority (CMA) to increase its capital through a SAR 172.8 million rights issue, the market regulator said in a statement.

 

The increase will be limited to the shareholders who are registered in the Securities Depository Center (Edaa) by the close of trading on the second trading day after the extraordinary general meeting (EGM), which will be determined by the company's board of directors later. 

 

The offer price and size will be determined by the company on the EGM date.

 

The CMA's approval of the prospectus should never be considered as a recommendation to participate in the offer nor invest in the company's shares.

 

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