Riyadh – Mubasher: The shareholders of L'azurde Company for Jewelry gave the green light for increasing the capital by 33.72% or SAR 145 million through a rights issue, according to a disclosure to Tadawul on Thursday.
The company will grant 0.3372 share for every one owned share. This will allow the capital to become SAR 575 million distributed over 57.5 million shares, compared to SAR 430 million and 43 million shares prior to the raise.
In a separate statement, Saudi Tadawul Group announced the fluctuation limit of L'azurde’s stock based on a share price of SAR 20.74
Accordingly, the outstanding orders will be cancelled. In addition, the new shares will be added into the eligible shareholders’ portfolios on 7 June.
The Saudi Capital Market Authority (CMA) approved last April L'Azurde’s request to increase the capital to support its future expansion activities and provide working capital for a higher operational capacity.
