Riyadh – Mubasher: The Capital Market Authority (CMA) gave its approval for Alandalus Property Company to increase the capital by SAR 233.33 million through 23.33 million bonus shares, according to a bourse disclosure on Thursday.

Alandalus Property will raise its capital to SAR 933.33 million distributed over 93.33 million shares, compared with SAR 700 million and 70 million shares prior to the increase.

The real estate firm will issue one bonus share for every three owned shares.

The company’s board recommended last May to raise the capital by 33%.