Naba Alsaha secures CMA nod for 100% capital hike via bonus issue

Logo of Naba Alsaha Medical Services Co.

Naba Alsaha Medical Services Co. secured the approval of the Capital Market Authority (CMA) to increase its capital from SAR 105 million to SAR 210 million via a 1:1 bonus issue.

Eligible shareholders are those registered with the Securities Depository Center (Edaa) by the end of the second trading day following the record date, which will be determined later by the company’s board of directors.

The planned capital top-up will be financed by transferring SAR 93 million from retained earnings and SAR 12 million from statutory reserve. As a result, the total number of outstanding shares will increase from 10.5 million to 21 million.

The CMA noted that the company’s deciding extraordinary general meeting (EGM) must be held within six months of this approval date, provided satisfying all applicable legalities and regulatory procedures.