CMA approves Ash-Sharqiyah’s capital increase request to buy real estate assets

05/12/2019 Argaam

 

The Capital Market Authority (CMA) approved Ash-Sharqiyah Development Co.’s request to increase its capital from SAR 75 million to SAR 120 million by issuing 4.5 million ordinary shares to acquire 2 real estate assets.

 

Shareholder circular related to the company’s capital increase will be published within sufficient time before the extraordinary general assembly meeting, the company said in a statement to Tadawul.

 

The shareholder circular will 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.

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