Logo of Baan Holding Group Co.
The Capital Market Authority (CMA) approved on Dec. 24, 2025, Baan Holding Group Co.'s application to increase its capital from SAR 315 million to SAR 619.97 million.
In a statement, the regulator clarified that the capital increase will be through issuing up to a maximum of 304.97 million ordinary shares subject to the completion of both transactions or either of them, to purchase a real estate asset owned by AlOula for Real Estate Development Co. (AlOula RED) and purchase three real estate assets owned by Abdul Mohsen Al Hokair Holding Group Co.
The shareholder circular related to BAAN Holding's capital increase will be published within sufficient time before the extraordinary general assembly meeting (EGM). The circular must include all relevant information that the shareholders need to know before making an informed decision when voting on the capital increase for the purpose described, including the increase in capital and risk factors.
According to Argaam's data, BAAN Holding signed, in December 2024, two binding agreements to acquire real estate assets. The first agreement is with AlOula RED, involving the acquisition of 86 residential units in the Ajdan Waterfront Tower project, Al Khobar. The consideration includes issuing new shares in the company’s capital to AlOula RED or its affiliate.
The second agreement is with Abdulmohsen Alhokair Holding Group Co. for the acquisition of six properties, with three hotels, in Riyadh and Jeddah. This deal also involves the exchange of new shares issued in the company’s capital.
AlOula RED transaction is valued at SAR 178.5 million, while Alhokair Holding transaction is valued at SAR 651.62 million.
|
Capital Increase Details |
|
|
Current Capital |
SAR 315 mln |
|
No. of Shares |
315 mln |
|
Percentage of Capital Increase |
96.80% |
|
Increase Amount |
SAR 304.97 mln |
|
New Capital |
SAR 619.97 mln |
|
New No. of Shares |
619.97 mln |
Be the first to comment
Comments Analysis: