Riyadh – Mubasher: Al Tayyar Travel Group Holding Co on Monday announced that its shareholders had approved changing the company’s name to Seera Holding Group during an extraordinary general meeting (EGM) held the previous day, according to a statement to the Saudi Stock Exchange (Tadawul).

The travel group’s EGM also approved raising the company’s capital by 43% through a two-for-five bonus share issue.

The Saudi firm’s capital will be increased to SAR 3 billion from SAR 2.096 billion through raising the number of shares to 300 million from 209.65 million.

The capital increase will be carried out through capitalising SAR 903.5 million divided into SAR 707.34 million from retained profits and SAR 196.16 million from statutory reserves.