Thursday, July 18, 2024

5.2 billion “profits” to raise 100% of capital “Saudi Madonna” appetite

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I opened 5.2 billion riyals, representing the profit of the Saudi Arabian Mining Company (Madonna) at the end of 2021, to increase the capital of the company from 12.3 billion to 24.6 billion riyals by 100% through the appraisal of the Board of Directors, the free acquisition of approximately 12.306 billion riyals and the issuance of free shares A portion, based on the recommendation of the General Assembly, will be given a free share for each share owned by the shareholders. In addition, the company’s shares rose to about 2.46 billion shares, up from about 1.23 billion before the increase.

The company’s capital increase aims to strengthen its capital base, which contributes to improving future growth plans, according to four separate reports released today.

27% reduction in financial costs

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Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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