Saudi Arabia Capital Market Authority approved Arabian Internet and Communications Services Company's request to increase its capital to SAR 2.4 billion from SAR 1.2 billion by issuing one bonus share for each existing share, funded through the transfer of SAR 1.2 billion from retained earnings to capital, which will raise the company's outstanding shares to 240 million from 120 million, with eligibility based on shareholders registered at the Securities Depository Center at the close of the second trading day after a due date to be set later by the board, and the extraordinary general assembly must be held within six months of the approval while the company completes all applicable regulatory requirements and laws.
Saudi Arabia Capital Markets Authority2026-05-14
Saudi Arabia Capital Market Authority approves Arabian Internet and Communications Services Company bonus share issue doubling capital to SAR 2.4 billion
The Saudi Arabia Capital Markets Authority approved Arabian Internet and Communications Services Company’s capital increase to SAR 2.4 billion from SAR 1.2 billion through one bonus share for each existing share, funded by transferring SAR 1.2 billion from retained earnings. The move will double outstanding shares to 240 million, with eligibility based on shareholders registered at the Securities Depository Center as of the second trading day after a due date set by the board, and is subject to an extraordinary general assembly within six months.