Latest news with #capitalincrease
Reuters
a day ago
- Business
- Reuters
Italy's Moratti, Gavio families invest in Canzonieri's Nextalia private equity firm
MILAN, May 30 (Reuters) - Nextalia, the private equity firm founded by former Mediobanca and Barclays investment banker Francesco Canzonieri, said on Friday that Italy's Moratti and Gavio families had become shareholders. Nextalia said the investment vehicles of the two families would buy into a capital increase with two representatives, Angelomario Moratti and Francesco Vercesi, respectively joining its board of directors. "This confirms Nextalia's role as the go-to independent investment platform for private markets to support Italy's real economy," it said. The Moratti family, who used to own top-tier soccer club Inter Milan, last year agreed to sell 35% of their oil refiner Saras to global commodity trader Vitol. The Gavio family is the main shareholder in toll-road operator ASTM. Nextalia said its new Nextalia Flexible Capital fund had raised 370 million euros ($419 million) in three months, more than targeted, and would garner more in the next few months thanks to ongoing investor interest. It has also started marketing its Nextalia Credit Solutions fund, set up at the end of March, which aims to raise 200 million euros from professional investors. Nextalia said it had named Leonardo Adessi as chief investment officer (CIO) for its credit division, replicating the model adopted for its equity operations where the running of various funds is coordinated by a single CIO. ($1 = 0.8829 euros)
Argaam
4 days ago
- Business
- Argaam
Saudi Lime secures CMA go-head on capital hike to SAR 231M via bonus shares
The Capital Market Authority (CMA) approved today, May 27, Saudi Lime Industries Co. 's request to increase capital from SAR 220 million to SAR 231 million by issuing one bonus share for every 20 shares held. Eligible shareholders will be those registered with the Securities Depository Center (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 market regulator said in a statement. The planned capital top-up will be funded by transferring SAR 11 million from the retained earnings account, which will raise the number of shares from 22 million to 23.10 million. The CMA stipulated that the deciding extraordinary general meeting (EGM) meeting must be held within six months from its approval date. The company must also fulfill the necessary legal procedures and requirements. According to data available with Argaam, last March, Saudi Lime's board recommended a 5% capital hike via bonus shares, as outlined in the following table:
Argaam
4 days ago
- Business
- Argaam
Bahri gets CMA nod to top-up capital to SAR 9.23B via bonus issue
The Capital Market Authority (CMA) approved the National Shipping Company of Saudi Arabia's (Bahri) request to increase its capital from SAR 7.38 billion to SAR 9.23 billion by granting one bonus share for every four shares held. The planned capital hike will be funded by capitalizing SAR 1.84 billion from the company's retained earnings account. Consequently, the number of the company's outstanding shares will rise from 922.85 million to 738.28 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 data available with Argaam, in March, Bahri's board of directors recommended a 25% capital increase through a 1-for-4 bonus share issue.
Zawya
5 days ago
- Business
- Zawya
Saudi: Banan's unit Qimam Noshoz to increase capital to $29.33mln
Riyadh – Qimam Noshoz Real Estate Development Company, a subsidiary of Banan Real Estate Company, obtained the extraordinary general meeting's approval to increase its capital to SAR 110 million. The simplified joint stock unit aims to increase its capital from SAR 71 million through the issuance of 3.90 million new shares at a nominal value of SAR 10 per share. Moreover, Banan's board greenlighted the subscription of both the company and its subsidiary, Al Aziza Investment and Real Estate Development Company, in a total of 2.53 million shares. The Tadawul-listed firm will subscribe to 1.29 million shares, with a total amount of SAR 12.96 million. In this regard, its ownership in Qimam Noshoz will increase to 26.63%, instead of 23% before the transaction. Meanwhile, Al Aziza Investment will subscribe to 1.24 million shares, with a total value of SAR 12.40 million. Hence, its shareholding will hike to 25.48% from 22%. The combined ownership of Banan and Al Aziza Investment in Qimam Noshoz will rise to 52.11% from 45%. This move aligns with Banan's strategy to support the growth and expansion plans of its subsidiary, reinforcing its financial position and boosting its consolidated financial results. In January 2025, Qimam Noshoz and Armah Sports Company signed a SAR 224.01 million deal to develop two fully equipped fitness clubs in Riyadh's Al Wadi district.
Argaam
6 days ago
- Business
- Argaam
Banan's unit Qimam Noshoz gets shareholder nod to raise capital to SAR 110M
The extraordinary general assembly of Banan Real Estate 's subsidiary, Qimam Noshoz Real Estate Development Co. (a simplified joint-stock company), approved on May 25 a capital increase from SAR 71 million to SAR 110 million by issuing 3.9 million new shares at a nominal value of SAR 10 per share. Banan's board of directors also approved subscription to a total of 2.54 million shares by both Banan Real Estate and its subsidiary, Al-Aziza Investment and Real Estate Development Co. Banan Real Estate will subscribe to 1.29 million shares valued at SAR 12.97 million, raising its ownership in Qimam Noshoz to 26.63% after the capital increase, up from 23% previously. Meanwhile, Al-Aziza will subscribe to 1.24 million shares worth SAR 12.4 million, increasing its stake to 25.48%, compared to 22% before the increase. Together, their combined ownership in Qimam Noshoz will rise to 52.11%, up from 45% prior to the capital hike. Banan said the capital increase supports its strategy to back the growth and expansion plans of its subsidiary, strengthen its financial position, and positively influence the company's consolidated financial results.
