Riyadh – Mubasher: The board of Yaqeen Capital Company recommended increasing the capital, on 17 December 2024, to SAR 255 million from SAR 150 million, according to a bourse filing.
The 70% capital raise will be implemented through the allocation of SAR 105 million from the retained earnings by way of granting 0.70 share for every one share.
Following the transaction, the new capital will be distributed over 25.50 million shares, compared to 15 million shares.
Yaqeen Capital will use the proceeds of the capital hike to expand its business, develop services and, increase growth opportunities.
Meanwhile, the transaction is conditional on obtaining the approval of the official authorities and the extraordinary general meeting (EGM).