Logo of Saudi Printing and Packaging Co.
Saudi Printing and Packaging Co.’s (SPPC) board of directors recommended today, Nov. 4, a SAR 180 million capital increase through a rights issue. 
In a statement to Tadawul, the company said the planned capital increase aims to strengthen its financial position and support funding its operational and strategic plans.
The company appointed Wasatah Capital as financial adviser and underwriter for the proposed rights issue.
The board recommendation remains subject to approval by the relevant regulatory authorities and the company’s shareholders at the deciding extraordinary general meeting.
Shareholders of record on the general meeting date and those registered with the Securities Depository Center (Edaa) will be eligible for the rights issue.
The company said it would announce the date for submitting the capital increase application to the Capital Market Authority (CMA), along with any subsequent developments.
According to Argaamdata, in October, Saudi Printing completed an 89.42% capital reduction from SAR 652.07 million to SAR 68.97 million, aiming to write off SAR 583.10 million in accumulated losses.
Logo of Saudi Printing and Packaging Co.
Saudi Printing and Packaging Co.’s (SPPC) board of directors recommended today, Nov. 4, a SAR 180 million capital increase through a rights issue.
In a statement to Tadawul, the company said the planned capital increase aims to strengthen its financial position and support funding its operational and strategic plans.
The company appointed Wasatah Capital as financial adviser and underwriter for the proposed rights issue.
The board recommendation remains subject to approval by the relevant regulatory authorities and the company’s shareholders at the deciding extraordinary general meeting.
Shareholders of record on the general meeting date and those registered with the Securities Depository Center (Edaa) will be eligible for the rights issue.
The company said it would announce the date for submitting the capital increase application to the Capital Market Authority (CMA), along with any subsequent developments.
According to Argaamdata, in October, Saudi Printing completed an 89.42% capital reduction from SAR 652.07 million to SAR 68.97 million, aiming to write off SAR 583.10 million in accumulated losses.
