Saudi Cable seeks CMA nod on capital hike via rights issue

Logo of Saudi Cable Co.

Saudi Cable Co. filed, on July 28, 2025, for the approval of the Capital Market Authority (CMA) on a capital increase via a SAR 400 million rights issue, according to a statement to Tadawul.

The capital increase is subject to clearance from regulators and approval of the company’s extraordinary general meeting (EGM).

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Any relevant material developments will be duly disclosed in accordance with the regulations of the Saudi Exchange (Tadawul) and the CMA, the statement added.

In May 2024, Saudi Cable’s board of directors recommended increasing capital from SAR 66.73 million to SAR 466.7 million via a SAR 400 million rights issue, data compiled by Argaam showed.

The increase will be used to boost working capital, expand operating capacity and support business activities, aligning with the proposed financial restructuring plan.