Publication Date:
Fri, 2005-11-11 03:00
JEDDAH, 11 November 2005 — Savola Group will hold a meeting on Wednesday to discuss plans to increase their capital from SR1.5 billion to SR1.8 billion. The group will underwrite 6 million stocks by the end of Nov. 16. Abdul Raouf Al-Manna, member of board of directors, said that each stockholder holding five shares would have the right to purchase one share for the value of SR400. He added that the 388.2 percent increase in profit compared to similar results achieved last year.
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