Riyadh - The extraordinary general meeting (EGM) of Sudair Pharmaceuticals Company (Sudair Pharma), a 35%-owned affiliate of Al Hammadi Holding Company, approved to increase its capital by SAR 116 million on 8 January 2024.

This capital hike from SAR 57 million to SAR 173 million will be executed through the transfer of the partners' existing balance based on their capital share, according to a bourse disclosure.

The purpose of the capital raise is to bolster the financial position of Sudair Pharma in addition to supporting the growth and development of its business operations.

In the first nine months (9M) of 2023, Al Hammadi Holding achieved net profits after Zakat and tax worth SAR 238.14 million, a 29.30% annual increase from SAR 184.17 million.

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