CMA approves Al-Othaim’s capital raise to SAR 450m

The Capital Market Authority (CMA) approved the proposed 50% capital raise of Abdullah Al Othaim Markets Company from SAR 225m to SAR 450m.

The capital raise is to take place by issuing one bonus share for each share owned by registered shareholders.

The transaction will be financed through capitalizing SAR 93.41m from statutory reserve, SAR 12.45m from optional reserve and SAR 119.14m from retained earnings account.

This issuance will increase the company’s listed shares from 22.5m shares to 45m shares.