The Saudi Arabia Capital Markets Authority approved Qomel Company’s request to double its share capital from SAR 35,000,000 to SAR 70,000,000 through a bonus share issue. The increase will be implemented by issuing one bonus share for every one existing share held by shareholders registered in the shareholders registry at the Security Depository Center as of the close of the second trading day after the due date, which will be determined later by the company’s board. It will be funded by transferring SAR 32,600,000 from the share premium account and SAR 2,400,000 from retained earnings to share capital, increasing outstanding shares from 3,500,000 to 7,000,000. 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 2025-03-10
Saudi Arabia Capital Markets Authority approves Qomel Company's 1-for-1 bonus share capital increase from SAR 35 million to SAR 70 million
The Saudi Arabia Capital Markets Authority approved Qomel Company's request to double its share capital from SAR 35 million to SAR 70 million through a bonus share issue. This will be achieved by issuing one bonus share for each existing share, funded by transferring SAR 32.6 million from the share premium account and SAR 2.4 million from retained earnings. An extraordinary general assembly must be held within six months, and all regulatory requirements must be met.