Saudi Arabia’s Capital Markets Authority approved Edarat Communication and Information Technology Company’s request to double its capital from SAR 25,200,000 to SAR 50,400,000 by issuing bonus shares. The increase will be implemented by issuing one bonus share for each existing share held by shareholders registered in the shareholders registry at the Securities Depository Center as of the close of the second trading day after the entitlement date, which will be set later by the company’s board. It will be funded by transferring SAR 25,200,000 from retained earnings to share capital, increasing outstanding shares from 2,520,000 to 5,040,000. The company must hold an extraordinary general assembly within six months of the approval and satisfy all applicable regulatory requirements and laws.
Saudi Arabia Capital Markets Authority 2025-03-24
Saudi Arabia’s Capital Markets Authority approves Edarat Communication and Information Technology Company’s capital increase via 1-for-1 bonus shares
Saudi Arabia's Capital Markets Authority approved Edarat Communication and Information Technology Company's plan to double its capital from SAR 25.2 million to SAR 50.4 million by issuing bonus shares. The increase will be funded by transferring SAR 25.2 million from retained earnings, raising outstanding shares from 2,520,000 to 5,040,000. The company must hold an extraordinary general assembly within six months and comply with all regulatory requirements.