SVCP Proposes SAR 80 Million Capital Increase
SVCP 2360.SA | 0.00 |
Saudi Vitrified Clay Pipes Co. announced on May 17, 2026 an Extraordinary General Assembly meeting scheduled for June 14, 2026 at 19:15 via modern technology to vote on a capital increase of SAR 80,000,000 through a rights issue of 8,000,000 shares. The capital increase will raise the company's capital from SAR 150,000,000 to SAR 230,000,000, representing a 53.33% increase, to address accumulated losses amounting to 50% of its capital and support the company's growth strategy. The meeting will also include voting on bylaw amendments and the appointment of Mr. Saleh bin Badr Al Sanea as an independent board member. Electronic voting begins on June 11, 2026 at 01:00 AM and continues until the end of the assembly meeting.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95441&anCat=1&cs=2360&locale=arAttached PDF document link:
https://www.saudiexchange.sa/Resources/fsPdf/29353_416_2026-05-17_08-37-33_en.pdfhttps://www.saudiexchange.sa/Resources/fsPdf/29353_416_2026-05-17_08-41-08_en.pdfhttps://www.saudiexchange.sa/Resources/fsPdf/29353_416_2026-05-17_08-41-35_en.pdfhttps://www.saudiexchange.sa/Resources/fsPdf/29353_416_2026-05-17_08-45-51_en.pdfhttps://www.saudiexchange.sa/Resources/fsPdf/29353_416_2026-05-17_08-47-51_en.pdfImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.