Edarat gets CMA nod to raise capital to SAR 25.2M via bonus shares

Logo of Edarat Communication and Information Technology Co.

Shareholders of Edarat Communication and Information Technology Co. will vote on a 100% capital increase from SAR 12.6 million to SAR 25.2 million, during the extraordinary general meeting (EGM), slated for April 16, 2024, according to a statement to Tadawul.

 

This increase will be through capitalizing SAR 12.6 million from the retained earnings, by 1-for-1 bonus share distribution, the statement added.

 

The move aims to strengthen the capital base and implement the future activities, which will boost the company’s growth.

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