CMA OKs Alasmak’s rights offering to raise capital

Logo of Saudi Fisheries Co. (Alasmak) 

The Capital Market Authority CMA) approved a request submitted by Saudi Fisheries Co. (Alasmak) to increase its capital through a SAR 334.93 million rights issue.

In a statement, the market regulator said eligibility will be limited to shareholders of record registered with Securities Depository Center (Edaa) at the end of the second trading day following the deciding extraordinary general meeting (EGM). The meeting date will be set by the company’s board at a later stage.

The offer price and the number of shares to be issued will be determined after the planned EGM.

The request was approved by CMA after reviewing it against regulatory requirements. It added that the rights issue prospectus will be published and made available to the public later.

The regulator warned against making an investment decision based solely on the capital increase announcement.

It urged investors to carefully review the issue prospectus.

According to Argaam data, the company’s board recommended in February 2025 raising capital to SAR 401.92 million via a SAR 334.93 million rights issue, to support its strategic plans and future operations.