Riyadh – Mubasher: The Capital Market Authority (CMA) greenlighted Maharah Human Resources Company’s request to raise its capital by offering one bonus share for every five owned shares.

The new capital will stand at SAR 475 million distributed over 47.50 million shares, compared to SAR 375 million distributed over 37.50 million shares prior to the hike.

Maharah will transfer SAR 100 million from the retained earnings account to carry out the capital raise process, according to a bourse filing.

Last March, the board members proposed the 26.67% capital increase to foster the company's financial position.