Logo ofAl Yamamah Steel Industries Co.
Al Yamamah Steel Industries Co.’s board approved today, Nov. 13, subscribing to its subsidiary Al Yamamah Reinforcing Steel Bars’ capital increase for SAR 75.6 million through 6.3 million shares to support the subsidiary’s projects and maintain strategic involvement. 
In a statement on Tadawul, the company said the subscription will be financed from its own resources and aligns with its strategy to support the growth of high-performing affiliates.
Al Yamama Reinforcing Steel planned to increase its capital by SAR 300 million to reach SAR 600 million, offering 25 million shares at SAR 12 per share to its shareholders to fund the construction of a concrete block factory, subject to regulatory approvals.
The statement also noted that Al Yamama Steel’s ownership in the subsidiary will decrease to 51% after the capital increase, compared with the current 72.5%.
The decision was made in accordance with the company’s conflict-of-interest policy, with no preferential terms involved.
Al Yamama Steel added that it will disclose any material developments related to this matter in due course.
Logo ofAl Yamamah Steel Industries Co.
Al Yamamah Steel Industries Co.’s board approved today, Nov. 13, subscribing to its subsidiary Al Yamamah Reinforcing Steel Bars’ capital increase for SAR 75.6 million through 6.3 million shares to support the subsidiary’s projects and maintain strategic involvement.
In a statement on Tadawul, the company said the subscription will be financed from its own resources and aligns with its strategy to support the growth of high-performing affiliates.
Al Yamama Reinforcing Steel planned to increase its capital by SAR 300 million to reach SAR 600 million, offering 25 million shares at SAR 12 per share to its shareholders to fund the construction of a concrete block factory, subject to regulatory approvals.
The statement also noted that Al Yamama Steel’s ownership in the subsidiary will decrease to 51% after the capital increase, compared with the current 72.5%.
The decision was made in accordance with the company’s conflict-of-interest policy, with no preferential terms involved.
Al Yamama Steel added that it will disclose any material developments related to this matter in due course.
