Riyadh – Mubasher: The Capital Market Authority (CMA) approved the prospectus associated with Al Baha Investment and Development Company’s request to increase its capital from SAR 150 million to SAR 295 million.
The capital hike will be through issuing 14.5 million ordinary shares for the purpose of acquiring all the equity stakes of the partners at Al Marakez Al Raqia Company Ltd., according to a bourse filing on Monday.
The company stated that it has fulfilled the disclosure requirements pursuant to the listing rules.
Moreover, Al Baha said that it will publish the increase prospectus within sufficient time prior to the extraordinary general meeting (EGM).
