CMA approves Yaqeen Capital’s 70% capital hike via bonus shares

Logo of Yaqeen Capital

The Capital Market Authority (CMA) approved today, March 25, Yaqeen Capital’s request to increase its capital from SAR 150 million to SAR 255 million through a 0.70-for-1 bonus share issuance.

Eligible shareholders are those registered with the Securities Depository Center (Edaa) at the end of the second trading day after the record date, the CMA said.

The record date will be determined later by the company’s board of directors.

The capital hike will be funded by transferring SAR 105 million from retained earnings, increasing the total number of shares by 10.5 million, from 15 million to 25.5 million.

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The CMA stipulated that Yaqeen Capital must hold an extraordinary general meeting (EGM) within six months from the approval date and complete all necessary regulatory procedures.

According to data available with Argaam, Yaqeen Capital’s board of directors recommended a 70% capital increase in December 2024 by capitalizing part of the retained earnings and granting 0.70 bonus shares per existing share.

The company aims to utilize the capital increase to expand its operations, enhance its services, and drive future growth.