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Naba Alsaha obtains regulatory nod for capital hike via bonus shares

Naba Alsaha obtains regulatory nod for capital hike via bonus shares
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Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) has approved Naba Alsaha Medical Services Company's request to increase its capital by issuing one bonus share for every two existing shares.

Naba Alsaha plans to raise the capital by SAR 35 million to reach SAR 105 million from SAR 70 million, according to an official announcement.

The capital increase will be paid by transferring the amount from the retained earnings account to Naba Alsaha's capital.

Accordingly, the outstanding shares will become 10.50 million instead of 7 million shares prior to the 3.50 million bonus shares addition.

The CMA highlighted that the shareholders shall hold an extraordinary general meeting (EGM) within six months from the authority’s approval date, 21 September 2023.