Logo ofSaudi Industrial Development Co. (SIDC)
Saudi Industrial Development Co.’s (SIDC) shareholders will vote on increasing capital through SAR 165 million rights issue, during an extraordinary general assembly meeting, to be held on Nov. 6, the company said in a Tadawul statement. 
Capital Increase Details
Current Capital
SAR 135 mln
Number of Shares
13.5 mln
New Capital
SAR 300 mln
New Number of Shares
30 mln
Percentage of Increase
122.22%
Par Value
SAR 10
Method
Offering 16.5 million rights issue shares at a total value of SAR 165 million.
Reason for Increase
Enable the company to implement its operational plans, support its working capital and enhance its financial position.
Record Date
Shareholders of record at the end of trading on the day of the company’s extraordinary general assembly (EGM), and those registered with Edaa at the end of the second trading day following the EGM
According to Argaam‘s data, SIDC shareholders approved, in September 2024, the board’s proposal to cut capital by 66.25% from SAR 400 million to SAR 135 million, through writing off 26.5 million shares to amortize accumulated losses.
Logo ofSaudi Industrial Development Co. (SIDC)
Saudi Industrial Development Co.’s (SIDC) shareholders will vote on increasing capital through SAR 165 million rights issue, during an extraordinary general assembly meeting, to be held on Nov. 6, the company said in a Tadawul statement.
Capital Increase Details
Current Capital
SAR 135 mln
Number of Shares
13.5 mln
New Capital
SAR 300 mln
New Number of Shares
30 mln
Percentage of Increase
122.22%
Par Value
SAR 10
Method
Offering 16.5 million rights issue shares at a total value of SAR 165 million.
Reason for Increase
Enable the company to implement its operational plans, support its working capital and enhance its financial position.
Record Date
Shareholders of record at the end of trading on the day of the company’s extraordinary general assembly (EGM), and those registered with Edaa at the end of the second trading day following the EGM
According to Argaam‘s data, SIDC shareholders approved, in September 2024, the board’s proposal to cut capital by 66.25% from SAR 400 million to SAR 135 million, through writing off 26.5 million shares to amortize accumulated losses.
