The general assembly of the Saudi Fisheries Company, at its meeting held last Thursday, approved the increase of the company’s capital, with the aim of financing the restoration and operation of a project for the company.

The fish said in a statement to the Saudi market (Tadawul) yesterday, Sunday, that the increase from 101.1 million riyals to 400 million riyals, an increase of 298.9 million riyals, an increase of 295.7 %.

The company clarified that the capital increase will take place by offering and listing priority rights shares of 29.89 million ordinary shares, provided that the shareholders ’rights are registered in the company’s records with a deposit center Stock.

She stated that the goal of this increase is to finance the rehabilitation and operation of the Haridah project, reimbursement of foundation fees, working capital, and loan repayment.

She pointed out that the increase process required public approval to amend some articles of the company's articles of association; To keep pace with the capital increase.