CMA approves Naseej International Capital increase by Offering Right Issues at SAR 163.4 million

Naseej International Trading Company announced the issuance of the Capital Market Authority’s decision, which includes the approval of the Company’s application to increase its capital by way of a rights issue for a total amount of SAR 163.4 million, noting that this approval is subject to the Company’s extraordinary general assembly’s approval and the completion of all relevant regulatory requirements and procedures.

According to the statement published on Tadawul, the CMA issued its approval after the Company fulfilled all the requirements and comments relating to the capital increase application.

This comes in reference to the company’s announcement published on the Saudi Exchange website on April 16, 2023 in relation to the submission of the application for the increase of the Company’s capital by way of a rights issue to the Capital Market Authority (the CMA) based on the recommendation of the Board of Directors and its amendments issued on March 28, 2023, to increase the Company’s capital by way of a rights issue for a total amount of SAR 163.4 million.