The Saudi Arabia Capital Markets Authority issued a resolution approving Theeb Rent a Car Company’s request to increase its capital from SAR 430,000,000 to SAR 659,715,040 through the issuance of bonus shares at a ratio of one bonus share for every two existing shares. The increase will be funded by transferring SAR 67,982,523 from the statutory reserve account and SAR 161,732,517 from retained earnings to share capital. This will raise outstanding shares from 43,000,000 to 65,971,504, an increase of 22,971,504 shares, with entitlement for shareholders registered in the shareholders register at the Securities Depository Center as of the close of the second trading day after the due date set by the company’s board. An extraordinary general assembly must be held within six months of the approval, and the company is required to meet all applicable regulatory requirements and laws.
Saudi Arabia Capital Markets Authority 2025-10-22
Saudi Arabia Capital Markets Authority approves Theeb Rent a Car capital increase to SAR 659,715,040 via 1-for-2 bonus share issue
The Saudi Arabia Capital Markets Authority approved Theeb Rent a Car Company's capital increase from SAR 430 million to SAR 659.7 million through bonus shares, funded by statutory reserves and retained earnings. This will raise the number of shares from 43 million to 65.97 million. An extraordinary general assembly must be held within six months, and the company must comply with all regulatory requirements.