The Board of Directors recommended an abundance of industry and development and the company's capital by launching priority rights.
According to Arab Net, the company said in a statement that the total amount to receive about 154.34 million riyals.
As for the reasons for the increase, it is an abundance, they are preparing food companies that have extensive experience in the food process for nearly 27 years, and faithfully to see the Kingdom of 2030 and government support for national products, the company wishes to increase capital to expand its activities, automate production lines, and optimization of production lines Their brand to cover all regions of the Kingdom, which is expected to return on profit and reaches its goals.
She added that the eligibility shareholders' shareholders on the day of the unusual General Assembly, which decided to increase capital by offering a priority rights, whose names appear in the source of the source shareholders at the depository at the end of the second day traded the following date of the Assembly.
The company explained that it will be announced later when appointing a financial advisor as well as when submitting a request for capital increase to the Capital Market Authority and at any future developments in this regard.
The losses of an abundance of industry and development were abundant, fell 51.2% in 2020 to SAR 12.38 million, compared to SR 25.37 million in 2019.
