Riyadh Cement may raise capital

Riyadh Cement may raise capital
Published: 29 November 2005

Prince Faisal ibn Abdul Majeed, chairman of the board of Saudi White Cement and Riyadh Cement, will preside over a meeting of the board to discuss a number of important topics including the plan to increase of Riyadh Cement’s capital from SR550 million to SR800 million and floating its shares for public subscription. The meeting will also discuss the setting up of a new production line, exchange of the company’s shares on the stock market and financial statements of the two companies. According to a company statement, the Ministry of Commerce and Industry has already approved increasing Riyadh Cement’s capital.