Riyadh — Mubasher: Al Jouf Agricultural Development Company submitted a formal application to the Capital Market Authority (CMA) on 3 September to increase its share capital from SAR 300 million to SAR 345 million.
The proposed expansion involves the issuance of 4.50 million new ordinary shares with the suspension of statutory preemptive rights.
The capital hike follows a binding subscription agreement signed on 26 July 2026 with Almunajem Foods Company.
Under the terms of the deal, Almunajem Foods will subscribe to the entirety of the new issuance. The 4.50 million new shares represent 15% of the current capital and will account for 13.04% of the company’s total share capital following the completion of the increase.
The transaction remains subject to final approvals from the CMA and the company’s extraordinary general assembly. This regulatory filing follows the initial board's recommendation for the capital increase announced on 24 August 2026.
Al Jouf Agricultural stated it will disclose further developments regarding the approval process as they occur.
