AI Summary
Logo of Mohammed Hassan Al Naqool Sons Co.
The Capital Market Authority (CMA) granted today, June 9, Mohammed Hassan Al Naqool Sons Co. approval to increase its capital from SAR 29 million to SAR 58 million.
In a statement, the authority said the proposed move will involve issuing one bonus share for every share held.
Eligible shareholders are those registered with the Security Depository Center (Edaa) by the end of the second trading day after the record date, which will be determined later by the board of directors.
The planned capital hike will be financed by transferring SAR 29 million from retained earnings, increasing the number of shares from 2.9 million to 5.8 million.
The company’s deciding extraordinary general meeting (EGM) shall be held within six months from this approval date, provided satisfying all regulatory requirements and applicable laws, the CMA said.
The company’s board recommended in April 2026 a 100% capital increase through a one-for-one bonus share issue, according to Argaam’s data.
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Capital Increase Details |
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Current Capital |
SAR 29 mln |
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No. of Shares |
2.9 mln |
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New Capital |
SAR 58 mln |
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New No. of Shares |
5.8 mln |
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Percentage of Increase |
100% (one bonus share for every one share held) |
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Method |
Capitalizing SAR 29 mln from retained earnings |
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Record Date |
Eligibility will be for shareholders of record and those registered with Edaa by the close of the second trading day following the record date. |
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Reason |
Strengthening the strategic growth plan and future expansion needs, and emphasizing the company's financial solvency and strong financial position. |
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