Riyadh – Mubasher: The Capital Market Authority (CMA) greenlighted the request of Yaqeen Capital Company to trade its shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul).
Yaqeen plans to float 3 million shares, equivalent to 20% of its share capital, according to a bourse filing.
In a separate bourse disclosure, the CMA greenlighted the capital hike of Bank Aljazira through the issuance of one bonus share for every four owned shares.
Following the transaction, the new capital will stand at SAR 10.25 billion distributed over 1.02 billion shares, versus SAR 8.20 billion and 820 million shares.
The lender’s board recommended the 25% capital raise, on 25 January 2024, to boost its capital base in line with its strategic objectives.
It is worth highlighting that the CMA granted its approval for the two transactions on 18 March.
