Saudi Industrial Exports Co.’s (SIECO), an importing and exporting company, shareholders have approved a 54 million Saudi riyal ($14.3 million) capital hike through a rights issue.
The capital hike aims to support the company's financial position and develop its business and activities.
In a separate statement, the Saudi Stock Exchange, Tadawul, said that the fluctuation limits for SIECO will be based on a share price of $12.64 per share.
The rights issue is subject to the approval of competent regulatory authorities.