Riyadh – Mubasher: The Capital Market Authority (CMA) approved the request of Arabian Pipes Company to increase its capital from SAR 200 million to SAR 252 million, according to a bourse filing.
Arabian Pipes will issue a bonus share for every four existing shares owned by the shareholders who are registered in the shareholders' registry at the Security Depository Center.
The transaction will be implemented by transferring an amount of SAR 52 million from the retained earnings account to the company's capital.
In this regard, the outstanding shares will increase to 252 million shares when compared to 200 million shares before the capital hike.
Meanwhile, the extraordinary general meeting (EGM) shall be held within six months of 11 June 2026.
Last month, the company inked SAR 62 million contracts with the oil giant Saudi Arabian Oil Company (Aramco) to supply steel pipes for the oil and gas major’s operations.
