‎SIDC files for CMA approval on capital hike

Saudi Industrial Development Co. (SIDC)submitted on Dec. 26 a request for the approval of the Capital Market Authority (CMA) on capital increase, according to a statement toTadawul.

Any related updates will be duly revealed in line with the applicable regulations, the statement added.

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In September, the company’s shareholders approved to cut capital by 66.25% from SAR 400 million to SAR 135 million, data compiled with Argaam showed.

Saudi Industrial Development Co. (SIDC)submitted on Dec. 26 a request for the approval of the Capital Market Authority (CMA) on capital increase, according to a statement toTadawul.

Any related updates will be duly revealed in line with the applicable regulations, the statement added.

In September, the company’s shareholders approved to cut capital by 66.25% from SAR 400 million to SAR 135 million, data compiled with Argaam showed.