AI Summary
Logo of Asas Makeen Real Estate Development and Investment Co.
The Capital Market Authority (CMA) approved Asas Makeen Real Estate Development and Investment Co.'s request to increase capital from SAR 100 million to SAR 300 million.
The planned capital top-up will be carried out through a two-for-one bonus share distribution, to shareholders of record who are registered with the Security Depository Center (Edaa) by the close of trading on the second trading day after the record date that will be determined later.
The potential transaction will be financed through transferring SAR 200 million from the retained earnings account to the company's capital. Consequently, the number of shares will be increased from 10 million to 30 million.
The deciding extraordinary general assembly should be held within six months from this approval date. Asas Makeen should satisfy all regulatory requirements and applicable laws.
According to Argaam data, Asas Makeen’s board recommended on Oct. 30, 2025, a 200% capital hike from SAR 100 million to SAR 300 million, through a bonus issue.
|
Capital Increase Highlights |
|
|
Current Capital |
SAR 100 mln |
|
Current No. of Shares |
10 mln |
|
New Capital |
SAR 300 mln |
|
New No. of Shares |
30 mln |
|
Percentage of Increase |
200% (2-for-1 bonus issue) |
|
Reason |
Supporting the growth strategy as well as strengthening the capital base and the company's financial position to implement its future plans and activities, thereby enabling expansion and maximizing returns on shareholders' equity |
|
Funding |
Capitalizing SAR 200 mln from retained earnings |
|
Record Date |
To be determine later |
Be the first to comment
Comments Analysis: