The Board of Directors of “ASQ” approves raising the capital of a subsidiary company to 15 million riyals
Yesterday, the Board of Directors of Asak Plastic Factory Company approved an increase in the capital of its subsidiary Asak Pipes Company (a 100% owned company).
The company said in a statement on its website "Saudi Arabia trading"Raising the capital from 250,000 riyals to 15,000,000 riyals, by capitalizing the balance due to a related party to the parent company, Asak Plastic Factory Company, from the subsidiary, Asak Pipe Company, amounting to 14,645,394 riyals as of December 31, 2025 AD, and capitalizing an amount of 104,606 riyals from retained earnings, so that the total capitalized amounts are 14,750,000 riyals.
According to the statement, this measure comes with the aim of strengthening the financial position of the subsidiary, and enabling it to achieve its future operational and strategic plans with greater efficiency.
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