Riyadh — Mubasher: Thimar Development Holding Company submitted a formal application to the Capital Market Authority (CMA) on 1 October 2026, seeking approval to increase its capital through a rights issue.
The proposed capital hike is valued at SAR 130 million, according to a bourse filing.
The submission follows the initial recommendation made by the company’s board of directors in July 2026 to bolster the capital base via the issuance of priority rights.
Thimar stated that the filing of the application file with the regulator is a key step in the execution of this financial restructuring.
The company further confirmed that it will disclose any further material developments regarding the progress of the application or the regulatory approval process as they occur.
Meanwhile, the final execution of the capital increase remains subject to obtaining the necessary approvals from the CMA and the company’s extraordinary general assembly.
