Riyadh – Mubasher: The board of Al Gassim Investment Holding Company (GACO) proposed raising the firm’s capital through offering rights issue shares.
The board recommended increasing the capital by SAR 100 million to SAR 400 million, according to a filing to the Saudi Stock Exchange (Tadawul) on Tuesday.
The Saudi-based company noted that the new raise will be used to support its plans of expansion.
GACO has appointed Wasatah Capital as a financial advisor for the offering, the statement added.
