Anaam board amends capital increase proposal to SAR 236.25 mln

18/05/2023 Argaam

Anaam board amends capital increase proposal to SAR 236.25 mln

Logo of Anaam International Holding Group

Anaam International Holding Group’s board of directors amended its recommendation to increase capital to SAR 236.25 million from SAR 157.50 million through a rights issue.

 

Any developments in this regard will be announced later, the company noted in a statement to Tadawul today, May 18.

 

Anaam’s board recommended, on Oct. 3, 2022, raising capital by SAR 157.5 million via a rights issue. This is in order to support working capital, reduce interest rates and bolster the company’s growth, Argaam's data showed.

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