21
Mar
08:50
Saudi regulator approves Arabian Pipes capital increase
Riyadh-based Arabian Pipes Co. (APC) has received approval from the Capital Market Authority (CMA) for its request to increase share capital through a SAR 300 million ($80m) rights issue.
The move is subject to approval from the company's extraordinary general assembly and the completion of relevant legal procedures and requirements, Kallanish understands.
The main reason for the capital increase is to support working capital, enhance the company…
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