CMA green lights Alhasoob capital hike via bonus issue

05/04/2023 Argaam
Logo ofAlhasoob Trading Co.

Logo of Alhasoob Trading Co.

The Capital Market Authority (CMA) approved the request received from Alhasoob Trading Co. to increase its capital from SAR 14 million to SAR 28 million through a one-for-one bonus share distribution, according to a statement.

 

The bonus distribution will be to shareholders of record by the end of the second trading day following the record date, which will be determined by the board of directors later on.

 

The capital increase will be paid by transferring SAR 14 million from retained earnings account to the company's capital.

 

The company's extraordinary general assembly meeting will be held within six months from this approval date and the company shall satisfy all regulatory requirements and applicable laws, the regulator said.

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