Savola shareholders to vote on capital hike through rights issue on Aug. 25
Savola Groupheadquarters
Savola Group shareholders will vote on increasing capital by SAR 6 billion via a rights issue during an extraordinary general meeting (EGM) scheduled for Aug. 25, according to a statement to Tadawul.
Capital Increase Details
Current Capital
SAR 5.339 bln
Current Number of Shares
533.98 mln
New Capital
SAR 11.339 bln
New Number of Shares
1.133 bln
Capital Hike (%)
112.36% (or 1.1236 rights share for every 1 held share)
Offer Price
SAR 10
Reason for Increase
To enable the company to strengthen its financial position and support its future investment portfolio by paying off its debts and enabling it to distribute its shares in Almarai Co…
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