Riyadh – Mubasher: The Capital Market Authority (CMA) greenlighted the request of Intelligent Oud Company for Trading to increase its capital by granting one bonus share for every five owned shares.
The Saudi firm will raise its capital by 20% to SAR 19.50 million from SAR 16.25 million, according to a bourse filing.
Intelligent Oud will transfer SAR 3.25 million from the retained earnings account. Then, the new capital will be distributed over 1.95 million shares, instead of 1.62 million shares.
The CMA passed the capital hike on 4 June 2024, while the board members proposed the transaction on 28 April.