The Saudi Arabia Capital Markets Authority approved BAAN Holding Co.’s request to increase its capital from SAR 315,000,000 to SAR 619,966,936 by issuing up to 304,966,936 ordinary shares, linked to the completion of one or both of two transactions to acquire specified real estate assets. The increase is intended to fund the purchase of a real estate asset owned by AlOula for Real Estate Development Company and the purchase of three real estate assets owned by Abdul Mohsen Al Hokair Holding Group Company. A shareholder circular will be published sufficiently in advance of the Extraordinary General Assembly meeting and must include the information shareholders need to make an informed voting decision, including risk factors. The CMA also stressed that its approval is not an endorsement of the feasibility of the purpose of the capital increase, but reflects that the legal requirements under the Capital Market Law and its Implementing Regulations have been met. Next steps include publication of the shareholder circular and shareholder voting at the Extraordinary General Assembly meeting on the proposed capital increase.
Saudi Arabia Capital Markets Authority 2026-01-06
Saudi Arabia Capital Markets Authority approves BAAN Holding capital increase to SAR 619,966,936 for real estate asset purchases
The Saudi Arabia Capital Markets Authority approved BAAN Holding Co.'s capital increase from SAR 315 million to SAR 619.97 million through issuing up to 304.97 million ordinary shares to fund real estate acquisitions. The approval confirms compliance with legal requirements, and a shareholder circular will be published before the Extraordinary General Assembly meeting for voting.