Raydan Food Company announced the Board of Directors ’recommendation to increase the company's capital by offering priority rights shares.
The company said in a statement to the Saudi market (Tadawul), today, Tuesday, that the total amount to be obtained is 112.5 million riyals.
and explained that the reasons for the capital increase lie in supporting the expansion of the company's activity by injecting new funds to provide working capital to increase the operational capacity and support the future activity of the company.
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and indicated that the right to increase the capital will be for the shareholders who own the shares on the day of the meeting, which decided to increase by offering priority rights shares and whose names appear in the issuer's shareholder register at the Center Deposit by the end of the second trading day following the date of the General Assembly.
and the company indicated that it had appointed FALCOM Financial Services as a financial advisor for the offering on Tuesday, 8 September 2020.
(Amazon Fun Knowledge)
