Saudi Arabia's Capital Market Authority (CMA) approved National Shipping Company of Saudi Arabia’s request to increase its capital by issuing bonus shares, raising share capital from SAR 7,382,812,500 to SAR 9,228,515,620. The increase will be implemented by issuing one bonus share for every four existing shares held by shareholders registered in the shareholders registry at the Security Depository Center as of the close of the second trading day after the due date, which will be set later by the company’s board. Funding will come from transferring SAR 1,845,703,120 from retained earnings to share capital, increasing outstanding shares from 738,281,250 to 922,851,562, an addition of 184,570,312 shares. An extraordinary general assembly must be held within six months of the approval, and the company must meet all regulatory requirements and applicable laws.
Saudi Arabia Capital Markets Authority 2025-05-27
Saudi Arabia's Capital Market Authority approves National Shipping Company capital increase via 1-for-4 bonus share issue
Saudi Arabia's Capital Market Authority approved the National Shipping Company of Saudi Arabia's capital increase from SAR 7.38 billion to SAR 9.23 billion through the issuance of bonus shares. The increase involves issuing one bonus share for every four existing shares, funded by transferring SAR 1.85 billion from retained earnings. An extraordinary general assembly must be held within six months, and all regulatory requirements must be met.