Arabian Cement, Saudi Arabia said the sale of shares in a 14.3% capital increase will raise its paid-up capital to $213.4 million. The company will sell 500 million riyals ($133.3 million) worth of shares to its shareholders.
Arabian Cement, one of the smallest listed cement firms by market value, started listing subscribers on Saturday and will close on January 7, it said in a statement on the bourse’s website. The company will sell 10 million new shares at 50 riyals each. Its stock closed on Saturday at 92 riyals.