Edarat Communication and Information Technology Co. (EDARAT) announced that its Board of Directors, on December 5, 2024, recommended to the Extraordinary General Assembly a 100% capital increase, raising capital from SAR 25.2 million to SAR 50.4 million.
According to the statement on Tadawul, the increase will be funded by capitalizing SAR 25.2 million from reserves and retained earnings. As a result, the number of shares will double from 2.5 million to 5 million.
This move aims to strengthen the company’s capital base and support its future activities, facilitating sustainable growth in the coming years.
Eligible shareholders will include those registered in the company’s shareholders’ registry at the Securities Depository Center by the end of the second working day following the eligibility date.
