Saudi Paper Industry Company announced the latest developments in the prospectus to increase capital to develop the company and improve its performance and its previous announcements regarding the Roots Factory in Kuwait.
The company said today, Tuesday, in a statement on the site web of the Saudi stock exchange “Tadawul”, that “the installation of all machines has been completely completed, le prove operations have been completed, the electricity has been supplied and the operation has begun completely “.
He attributed the reason for the delay with respect to the date of the previous announcement to “government procedures and authorizations in the state of Kuwait for the introduction of electricity”.
The company confirmed in its statement that the effect of this Operations will be positive on the company’s earnings balance sheet.
Among the objectives of raising capital through the offer of shares in rights of approximately 145 million riyals, as announced in October last year, objectives include “supporting the company’s business expansion operations by injecting new funds to provide working capital to increase operational capacity and support the business . ” the future of the company.
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