Latest news with #capital increase
Argaam
a day ago
- Business
- Argaam
Al-Babtain decides to raise subsidiary capital to SAR 30M
Al-Babtain Power and Telecommunications Co. 's board of directors decided today, Aug. 11, to increase capital of its wholly owned subsidiary, Al-Babtain LeBlanc Communications Systems Co. (a one-person LLC), from SAR 10 million to SAR 30 million, according to a statement to Tadawul. The planned capital hike will be funded by capitalizing a SAR 20 million portion of the current account balance owed to Al-Babtain, the statement added. The company said the move aims to strengthen the subsidiary's financial position, grow its business, and develop operations.
Argaam
05-08-2025
- Business
- Argaam
CMA nods to Burgerizzr's capital hike to SAR 56M via bonus issue
The Capital Market Authority (CMA) approved Shatirah House Restaurant Co.'s (Burgerizzr) request to raise capital from SAR 35 million to SAR 56 million via a 3:5 bonus issue. In a statement today, Aug. 5, the market regulator said bonus shares will be eligible to shareholders registered with the Securities Depository Center Co. (Edaa) by the end of the second trading day following the record date, which will be determined later by the company's board of directors. The planned capital hike will be funded by capitalizing SAR 21 million from the company's retained earnings account. Consequently, the number of the company's outstanding shares will rise from 35 million to 56 million. The deciding extraordinary general meeting (EGM) shall be held within six months from this approval date and the company shall satisfy all regulatory requirements and applicable laws. According to Argaam 's data, Burgerizzr's board recommended, on Feb. 16, a 60% capital increase from SAR 35 million to SAR 56 million via a 3:5 bonus issue, to be funded by capitalizing SAR 21 million from retained earnings.
