Saudi Arabia’s Capital Markets Authority approved Arabian Pipes Company’s request to increase its capital from SAR 150,000,000 to SAR 200,000,000 by issuing bonus shares. The increase will be implemented by issuing one bonus share for every three 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 a due date to be determined by the company’s board. It will be funded through transferring SAR 50,000,000 from the company’s retained earnings to capital, raising outstanding shares from 150,000,000 to 200,000,000. An 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 2025-04-28
Saudi Arabia Capital Markets Authority approves Arabian Pipes capital increase to SAR 200 million via 1 for 3 bonus share issue
Saudi Arabia's Capital Markets Authority has approved Arabian Pipes Company's capital increase from SAR 150 million to SAR 200 million through the issuance of bonus shares. The increase will be executed by issuing one bonus share for every three existing shares, funded by transferring SAR 50 million from retained earnings. An extraordinary general assembly must be held within six months, and all regulatory requirements must be met.