Saudi Arabia’s Capital Markets Authority (CMA) approved Saudi Arabian Mining Co.’s request to increase its share capital to acquire all shares of Alcoa Saudi Smelting Investments B.V. in Ma’aden Aluminium Co. and all shares of AWA Saudi Limited in Ma’aden Bauxite and Alumina Co. The capital increase raises capital from SAR 38,027,858,710 to SAR 38,887,634,180 through the issuance of 85,977,547 ordinary shares. A shareholder circular will be published ahead of the Extraordinary General Assembly meeting and must include information needed for an informed vote, including risk factors. The CMA also noted that its approval reflects that legal requirements under the Capital Market Law and its implementing regulations have been met and should not be taken as an endorsement of the feasibility of the capital increase for the stated purpose. Shareholders will vote on the capital increase at the Extraordinary General Assembly meeting after publication of the shareholder circular.
Saudi Arabia Capital Markets Authority 2025-06-02
Saudi Arabia Capital Markets Authority approves Saudi Arabian Mining Co. capital increase to SAR 38,887,634,180 for Alcoa and AWA share acquisitions
Saudi Arabia's Capital Markets Authority approved Saudi Arabian Mining Co.'s request to increase its share capital from SAR 38,027,858,710 to SAR 38,887,634,180 by issuing 85,977,547 ordinary shares to acquire shares in Ma’aden Aluminium Co. and Ma’aden Bauxite and Alumina Co. A shareholder circular will be published before the Extraordinary General Assembly meeting, detailing necessary information for an informed vote. The CMA emphasized that its approval confirms compliance with legal requirements but does not endorse the capital increase's feasibility.