Riyadh – Mubasher: Edarat Communication and Information Technology Company received the approval of the Capital Market Authority (CMA), on 5 April, to increase its capital by 100% through bonus shares.
The listed firm plans to increase the capital by double from SAR 6.30 million to SAR 12.60 million, according to a bourse filing.
The capital hike transaction will be carried out by issuing one bonus share for every share owned by the eligible shareholders.
In December 2022, Edarat Communication’s board recommended the 100% capital raise by capitalising SAR 6.30 million from the reserves and retained earnings accounts.
