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Walaw

Economy

Sofac Bolsters Capital through DH 210 Million Share Issuance

Friday 29 December 2023 - 11:20

In a momentous development, Sofac has officially declared a substantial increase in its social capital, soaring from DH 193.2 million to DH 210.45 million.

This remarkable growth, totaling DH 17.25 million, was accomplished through the issuance of 172,500 new ordinary shares, each carrying a nominal value of DH 100. Priced at DH 579.71 per share, the entire set of new shares was promptly subscribed to and fully paid upon subscription, whether in cash or through the offsetting of liquid and due claims against the company.

This initiative also involves a corresponding amendment to Article 6 within Sofac's bylaws, a decision unanimously endorsed during the Board of Directors meeting held on December 22, 2023.

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