Riyadh-Mubasher: Aseer Trading, Tourism and Manufacturing said the extraordinary general meeting of Alessa Industrial Co. (AIC) held on 6 July approved increasing capital by 87.5% from SAR 400 million to SAR 750 million.
The top-up will be effected through issuing 35 million shares, to shareholders of record on the date of general meeting.
The move will be financed through transferring SAR 235 million from retained earnings and SAR 115 million from statutory reserve.
Aseer holds a 38% equity in Alessa Industrial Co.
