Riyadh – Mubasher: Alkhabeer Capital, a prominent asset management company specializing in alternative investments, has increased its paid-up capital by 10%, or SAR 81.3 million, to SAR 984.5 million.
The decision was taken after obtaining the approval of the company’s shareholders, according to Alkhabeer’s statement on Wednesday.
This increase will add 8.1 million shares, bringing the total number of shares to 89.4 million.
The company added that the new shares will be distributed as stock dividends to current shareholders of the company.
“The decision to increase paid-up capital underscores the trust and confidence shareholders have in Alkhabeer’s senior management and our growth strategy. Moreover, this increase is in line with Alkhabeer Capital’s mission of delivering sustainable and superior long-term returns to its shareholders,” Musaad Mohammad Saad Aldrees, chairman of Alkhabeer, commented.
Ahmed Saud Ghouth, CEO of Alkhabeer, said that increasing the company’s capital provides it with a greater level of flexibility and resilience.
