The Saudi Industrial Exports (Saderat) submitted a request to the Capital Market Authority to increase the capital by offering priority rights shares.
According to Arabiya Net, the company said in a statement that it submitted the increase file on December 31, 2020.
and appointed Saderat Al-Khair Capital as a financial advisor to manage the IPO in the rights issue.
On November 10, 2020, SADARAT announced the recommendation of the Board of Directors to increase the company's capital by offering priority rights shares, and the company said that the total amount to be obtained is 129.6 One million riyals
The company stated, in a previous statement, that the reasons for the increase are to support the expansion of the company's future activities and to provide working capital to enable the company to increase its operational operations and reduce the company's losses.
The authorized and paid up capital of the company is 64.8 million riyals, distributed over 6.48 million shares, with a par value of 10 pounds per share.
