Riyadh – Mubasher: The Capital Market Authority (CMA) passed the request of Al Hokail Academy Specialized Digital Polyclinics Company to trade its shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul).
The Saudi firm intends to float 2.03 million shares, equivalent to 29% of its share capital, according to a bourse disclosure.
In a separate bourse statement, the CMA greenlighted the capital hike of Arab National Bank (ANB) through the issuance of one bonus share for every three owned shares.
Following the transaction, the new capital will stand at SAR 20 billion distributed over 2 billion shares, compared to SAR 15 billion and 1.50 billion shares.
The board of ANB proposed the 33.33% capital raise, on 7 February 2024, to reinforce the bank’s financial solvency.
It is worth highlighting that the CMA granted its approval for the two transactions on 11 March.
