Riyadh-Mubasher: Abdullah A. M. Al-Khodari Sons Co. said Wednesday its board decided to withdraw the rights issue request sent to the Capital Market Authority (CMA) until the government announces the state budget for the next fiscal year.
The board will reconsider the amount of capital increase in line with the investment directions for projects related to public spending to best serve the interest of shareholders, Al-Khodari said in a bourse statement.
The company had planned to raise its capital through offering rights issue shares worth SAR 500 million.
