Saudi Chemical Co. will increase capital of its subsidiary AJA Pharmaceutical Industries Co. by 138 percent from SAR 63 million to SAR 150 million.

 

The capital increase will go towards financing the construction of the AJA pharmaceuticals plant in Hail, Saudi Chemical said in a bourse statement on Monday.

 

AJA is 95 percent-owned by SCC and five percent indirectly owned by SCC’s subsidiary Chemical Company for Commercial Investment Ltd.

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