The Saudi Paper Manufacturing Company has applied to the Saudi Capital Market Authority to increase the company's capital by 100 million riyals by offering priority rights shares.

According to Arabia Net, the company mentioned the appointment of a financial brokerage company (Wasata Capital) as a financial advisor for the offering, confirming that it will announce later any developments in this regard.

The paper industry board recommended at the end of last April to increase the company's capital by offering priority rights shares worth one hundred million (100,000,000) riyals, subject to taking the approval of the official authorities with The relationship and the Extraordinary General Assembly.