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CMA approves Ayyan Investment’s capital hike

CMA approves Ayyan Investment’s capital hike
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Riyadh – Mubasher: The Capital Market Authority (CMA) greenlighted the request of Ayyan Investment Company to increase its capital through a rights issue worth SAR 200 million.

The CMA passed Ayyan Investment’s capital raise on 22 May 2024, according to a bourse disclosure.

Following the transaction, the Saudi firm's capital will stand at SAR 937.32 million, instead of SAR 737.32 million.

In the first quarter (Q1) of 2024, the company’s net losses increased by 19.67% year-on-year (YoY) to  SAR 55.91 million from SAR 46.72 million.

Revenues hiked by 44.28% to SAR 99.82 million in Q1-24 from SAR 69.18 million in Q1-23, while the loss per share climbed to SAR 0.69 from SAR 0.58.