The Saudi Arabia Capital Market Authority has approved Arabian Internet and Communications Services Company's request to double its capital to SAR 2.4 billion through a one-for-one bonus share issue. The increase will be funded by transferring SAR 1.2 billion from retained earnings to capital, lifting the company's outstanding shares from 120 million to 240 million. The bonus shares will be granted to shareholders registered in the shareholders registry at the Security Depository Center at the close of the second trading day after the due date, which the company's board will determine later. The extraordinary general assembly must be held within six months of the approval, and the company must satisfy all regulatory requirements and applicable laws.
Saudi Arabia Capital Markets Authority 2026-05-14
Saudi Arabia Capital Market Authority approves Arabian Internet and Communications Services one for one bonus issue to double capital to SAR 2.4 billion
The Saudi Arabia Capital Market Authority approved Arabian Internet and Communications Services Company’s plan to double its capital to SAR 2.4 billion via a one-for-one bonus share issue funded by transferring SAR 1.2 billion from retained earnings. The move will increase outstanding shares from 120 million to 240 million, subject to an extraordinary general assembly and the company meeting all regulatory requirements.