CMA approves Ayyan Investment’s capital hike

CMA approves Ayyan Investment’s capital hike

Riyadh – Mubasher: The Capital Market Authority (CMA) greenlighted the request of Ayyan Investment Company to increase its capital through a rights issue worth SAR 200 million.

The CMA passed Ayyan Investment’s capital raise on 22 May 2024, according to a bourse disclosure.

In the first quarter (Q1) of 2024, the company’s net losses increased by 19.67% year-on-year (YoY) to  SAR 55.91 million from SAR 46.72 million.

Revenues hiked by 44.28% to SAR 99.82 million in Q1-24 from SAR 69.18 million in Q1-23, while the loss per share climbed to SAR 0.69 from SAR 0.58.

CMA approves Ayyan Investment’s capital hike