‎Al Akaria shareholders approve capital hike through SAR 1.593 bln rights issue

‎Al Akaria shareholders approve capital hike through SAR 1.593 bln rights issue

Saudi Real Estate Co.’s (Al Akaria) shareholders approved increasing capital from SAR 2.4 billion to SAR 3.75 billion through a SAR 1.593 billion rights issue, during the extraordinary general meeting (EGM) held on May 18, according to a bourse filing.

In a separate statement, the Saudi Exchange (Tadawul) said that the daily trading fluctuation limit for Al Akaria after its capital increase will be based on a share price of SAR 16.18 today, May 19, and the outstanding orders will be canceled.

The Securities Depository Center (Edaa) will deposit the additional shares into investor portfolios on May 23.

In December 2021, Al Akaria’s board of directors approved amending the recommendation on increasing capital to SAR 1.593 billion from SAR 1.6 billion, Argaam earlier reported.

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