Thob Al-Aseel gets CMA nod for capital increase

02/06/2018 Argaam

The Saudi Capital Market Authority (CMA), the Kingdom’s market regulator, has approved on Thursday Thob Al-Aseel’s request for a capital increase through the issuance of bonus shares.

 

Nomu-listed Thob Al-Aseel plans to raise its capital from SAR 150 million to SAR 300 million by issuing one bonus share for every existing share owned by the shareholders.

 

Qualifying shareholders must be already registered in the registry at the Security Depository Center as of the closing trading day after the due date, which will be determined later by the company’s board.

 

The company’s outstanding shares will increase from 15 million to 30 million.

 

The extraordinary general assembly shall be held within six months from CMA’s approval date (which was May 31, 2018). Thob Al-Aseel shall satisfy all regulatory requirements and applicable laws, the regulator added in a statement.

 

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