Qomel shareholders OK 100% capital hike via bonus issue

Logo of Qomel Co.

Shareholders of Nomu-listed Qomel Co. approved the board’s recommendation to increase capital by 100% via a 1-for-1 bonus share distribution, during the extraordinary general meeting held on April 20, according to a statement to Tadawul.

Fractional shares, if any, will be compiled into a single portfolio and sold at market price.

For more news on listed companies

The proceeds will be distributed among the eligible shareholders pro rata within a period not exceeding 30 days.

Shareholders further approved the transfer of the statutory reserve balance amounting to SAR 2.27 million, as per the annual financial statements ending Dec. 31, 2024, to the retained earnings account.

Additionally, they authorized the board to distribute interim dividends on a semi-annual or quarterly basis for 2025.

Meanwhile, the Saudi Exchange (Tadawul) announced that the fluctuation limits for the company’s shares were calculated based on a price of SAR 59.90 for today, April 21, and all existing orders have been cancelled.

The Securities Depository Center Company (Edaa) will deposit the bonus shares into shareholders’ portfolios before the start of trading on April 23.