Riyadh – Mubasher: The Capital Market Authority (CMA) approved for Amlak International Finance Company to increase its capital by 12.50% or SAR 113.25 million through the issuance of 11.32 million bonus shares.

The company will issue one bonus share for every eight existing shares, according to an official disclosure.

Therefore, the new number of outstanding shares will become 101.92 million instead of 90.60 million shares prior to the hike. Amlak International will raise its capital from SAR 906 million to SAR 1.01 billion.

The company noted that the amount of the increase will be transferred as follows: SAR 11.31 million from the retained earnings account and SAR 101.93 million from the statutory reserves account.

In 2023, Amlak International registered net profits worth SAR 31.80 million in addition to investments of SAR 893,000.