Edaa implements capital hike on Makkah Construction

Logo of Makkah Construction and Development Co.

The Securities Depository Center Co. (Edaa) applied the increase in the number of Makkah Construction and Development Co.’s shares to the accounts of eligible shareholders today, Jan. 20, according to a Tadawul statement.

Earlier this month, shareholders approved the board's proposal for a 21.3% capital increase from SAR 1.64 billion to SAR 2 billion through distributing bonus shares to the company’s shareholders from the statutory reserve balance, according to data available with Argaam.