The CMA Increases AlAKARIA Capital by Offering Rights Issues of SR1.59 bln

The Saudi Real Estate Company (AlAKARIA) announced on Thursday to its shareholders the issuance of the CMA’s resolution on 20.04.2022 including the approval of the Company’s application to increase its capital by way of a rights issue for a total amount of (SR1,593,000,000). It should be noted that this approval is subject to the Company’s extraordinary general assembly’s approval and the completion of all relevant regulatory requirements and procedures.

The CMA issued its approval on Wednesday’s evening on 20.04.2022 on the Company’s application to increase its capital by way of a rights issue for a total amount of (SR1,593,000,000).

The CMA issued its approval after the Company fulfilled all the requirements and comments relating to the capital increase application. The Company will work to complete all other related regulatory procedures including publishing the rights issue prospectus and inviting the Company’s extraordinary general assembly to approve the capital’s increase.

This comes with reference to the Saudi Real Estate Company (the Company) announcement on the Saudi Exchange on 15.12.2021in 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 Company’s board recommendation on 12.12.2021 to increase the Company’s capital by way of a rights issue for a total amount of (SR1,593,000,000).