Al-Baha completes procedures for capital hike request approval with Edaa

Al-Baha Investment and Development Co. completed the regulatory procedures regarding the capital hike request with the Securities Depository Center (Edaa), in coordination with the Capital Market Authority (CMA), the company said in a bourse statement today, Feb. 17.

Accordingly, the company will reinclude the capital increase item on the extraordinary general assembly meeting’s (EGM) agenda.

Last month, Al-Baha invited its shareholders to vote on increasing capital via SAR 120 million rights issue, during the EGM that will be held on Feb. 21, according to data compiled by Argaam.

However, the company later announced postponing the capital increase item on the meeting’s agenda after coordination with the CMA and Edaa over non-completion of regulatory procedures with the depository center.