Riyadh – Mubasher: Mayar Holding Company withdrew its capital increase file due to additional requirements imposed by the Capital Market Authority (CMA).

The firm indicated that it plans to fulfill the requirements and resubmit the application as soon as possible, according to a bourse disclosure.

Mayar Holding submitted the request file to the CMA to raise its capital by SAR 110 million through a rights issue in December 2023.

During the January-June 2023 period, the company shifted to net losses after Zakat and tax valued at SAR 13.40 million, against net profits worth SAR 8.60 million a year earlier.

The accumulated losses hit SAR 4.95 million as of 30 September 2023, equivalent to 8.26% of the SAR 60 million capital.