The Clap
Anaam Holding’s (4061) BoD recommended increasing the company’s capital by offering rights issues of SAR 157.5 million.
The Deets
The company appointed Wasatah Capital as the financial advisor for the subscription and submitted a capital increase request file to the Saudi CMA.
Anaam Holding
Anaam Holding is in charge of many investments, covering different sectors such as industry, logistics, health care, and real estate.
Why this Matters
The decision aims to finance working capital and reduce lending rates as well as support the company’s activities during the coming period.
This is the fourth capital increase through offering priority rights.
Performance
Anaam Holding recorded a loss of about SAR 1.78 million in Q2 2022, compared to a net profit of around SAR 42 million in Q2 2021.
The group justified this loss due to the high cost of sales by the newly acquired entities in addition to lower fair values for other investments.
Anaam Holding recommends capital increase 💰
