Logo of Methanol Chemicals Co. (Chemanol)
Methanol Chemicals Co. (Chemanol) signed yesterday, Dec. 21 an agreement with Albilad Capital to act as financial advisor and underwriter for the offering, as part of the company’s capital increase through a rights issue amounting to SAR 350 million, replacing Wasatah Capital. 
The company said today in a statement to Tadawul that this step comes following the expiry of its contract with Wasatah Capital.
Chemanol noted that it will announce in due course once the application file for the capital increase is submitted to the Capital Market Authority (CMA) to obtain its approval.
According to data available on Argaam, Chemanol’s board of directors recommended in February 2024 a capital increase through a rights issue valued at SAR 674.51 million.
In May 2024, the board decided to amend its recommendation regarding the capital increase through a rights issue to SAR 350 million instead of SAR 674.51 million, due to changes in market conditions.
Logo of Methanol Chemicals Co. (Chemanol)
Methanol Chemicals Co. (Chemanol) signed yesterday, Dec. 21 an agreement with Albilad Capital to act as financial advisor and underwriter for the offering, as part of the company’s capital increase through a rights issue amounting to SAR 350 million, replacing Wasatah Capital.
The company said today in a statement to Tadawul that this step comes following the expiry of its contract with Wasatah Capital.
Chemanol noted that it will announce in due course once the application file for the capital increase is submitted to the Capital Market Authority (CMA) to obtain its approval.
According to data available on Argaam, Chemanol’s board of directors recommended in February 2024 a capital increase through a rights issue valued at SAR 674.51 million.
In May 2024, the board decided to amend its recommendation regarding the capital increase through a rights issue to SAR 350 million instead of SAR 674.51 million, due to changes in market conditions.
