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Al Kathiri Holding Co. has appointed SA'AF Capital as its financial advisor to manage its proposed capital increase through a rights issue. The company stated in a regulatory filing to Tadawul that it will announce the submission of its capital increase file to the Capital Market Authority (CMA) once filed for regulatory approval, along with any subsequent developments.
This decision follows the recommendation by Al Kathiri's board of directors to raise company capital by SAR 150 million via a rights issue, following the completion of an initial capital reduction process. SA'AF Capital's appointment comes shortly after the board selected Estidamah Capital to advise on the capital reduction, signaling a comprehensive financial restructuring plan.
Market participants will be watching for regulatory approvals from the CMA and the upcoming Extraordinary General Meeting (EGM) vote. Capital restructuring steps like rights issues often impact equity valuation and share liquidity on Tadawul, presenting dynamic corporate developments for shareholders.
