CMA OKs Naba Alsaha’s 50% capital hike via bonus issue

Logo of Naba Alsaha Medical Services Co.

The Capital Market Authority (CMA) approved the application received from Naba Alsaha Medical Services Co. to increase its capital from SAR 70 million to SAR 105 million through a one-for-two bonus share distribution, according to the market regulator's website.

Shareholders registered with the Security Depository Center (Edaa) at the end of the second trading day after the record date are eligible for the bonus shares.

The record date will be determined by the board of directors later.

The capital hike will be financed through transferring SAR 35 million from the retained earnings account to the company's capital.

The capital hike will be financed through transferring SAR 35 million from the retained earnings account to the company's capital. The total number of shares will be increased from seven million to 10.5 million.

An extraordinary general meeting (EGM) will be held within six months from the CMA’s approval date and the company will satisfy all regulatory requirements and applicable laws.

According to data on Argaam, Naba Alsaha’s board of directors earlier recommended a 50% capital top-up by issuing one bonus share for every two shares held.