Al-Yamamah Steel subscribes for 75.6 million riyals to increase the capital of a subsidiary
The Board of Directors of Al Yamamah Steel Industries Company decided to subscribe to the capital increase of Al Yamamah Reinforcing Steel Company (a subsidiary – a closed joint stock company).
The company said in a statement on its website "Saudi Arabia trading"This came based on the letter received from Al Yamamah Steel Industries Company from Al Yamamah Reinforcing Steel Company (the subsidiary is a closed joint stock company), which states that its Board of Directors recommends raising the company’s capital by 300 million riyals by issuing priority rights shares (noting that its current capital is 300 million riyals), to move forward with the iron blocks factory project, by issuing 25 million additional shares at a value of 12 riyals per share, and offering them to the company’s shareholders. To subscribe, after obtaining the approvals of the relevant authorities. The subsidiary company asked Al Yamamah Steel Industries Company to inform about the possibility of its participation in contributing to covering the subscription for the capital increase.
The Board of Directors of Al Yamamah Steel Industries Company decided to pass it on November 13, 2025 AD in accordance with Article (22) of the company’s articles of association, and after the examination, Al Yamamah Steel Industries Company’s participation in the subscription of 6.3 million shares of priority rights shares in the subsidiary company at a price of 12 riyals per share, for an amount A total of 75,600,000 riyals is financed from the company’s own resources, so that Al Yamamah Steel Industries Company’s share in Al Yamamah Reinforcing Steel Company (the subsidiary) becomes 51% after raising its capital, which requires the subsidiary to obtain the approvals of the relevant authorities.
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