Budget Saudi shareholders also approved amending Article (3) of the company’s articles of association related to the company’s objectives
United International Transportation Co.’s (Budget Saudi) shareholders approved the board recommendation to increase capital by 33.74% from SAR 781.7 million to SAR 1.04 billion, during an extraordinary general meeting (EGM) held on Feb. 19, the company said in a statement toTadawul. 
This will come through distributing 26.1 million bonus shares at one-for-three, making up 33.33% of the planned capital hike. This is besides allocating an additional 320,000 shares, representing 0.41% of post-increase capital, for the long-term employee stock incentive program.
Capital Increase Details
Current Capital
SAR 781.7 mln
Number of Shares
78.2 mln
Percentage of Increase
33.74 %
New Capital
SAR 104.5 bln
New Number of Shares
104.5 mln
Method
– Distributing 26.1 mln bonus shares at one-for-three, representing 33.33% of post-hike capital
– Allocating an additional 320,000 shares, or 0.41% of post-increase capital, for the long-term employee stock incentive program
Value of Reserve
Capitalizing SAR 263.8 mln from retained earnings
Record Date
Feb. 19, 2026, including shareholders registered with Edaa by the end of the second trading day following the EGM date
Reason
To support the company’s growth and boost its financial position
Fractional shares, if any, will be compiled into one portfolio for shareholders and will be sold at market price. The proceeds will then be distributed to eligible shareholders pro rata, within a period not exceeding 30 days from the date of determining the new shares eligible for each shareholder.
Shareholders also approved amending Article (3) of the company’s articles of association related to the company’s objectives.
Meanwhile, they ratified establishing a long-term employee stock incentive program, authorizing the board of directors to set the terms and provisions for the program and conducting any future amendments to it, while taking all necessary procedures to implement it in accordance with laws and regulations.
In a separate statement, the Saudi Exchange (Tadawul) announced that the fluctuation limits on Monday, Feb. 23, for Budget Saudi will be based on a share price ofSAR 43.52 and the outstanding orders will be canceled. Furthermore, the Securities Depository Center (Edaa) will deposit the addition shares into the investor’s portfolios by Wednesday, Feb. 25, 2025.
Budget Saudi shareholders also approved amending Article (3) of the company’s articles of association related to the company’s objectives
United International Transportation Co.’s (Budget Saudi) shareholders approved the board recommendation to increase capital by 33.74% from SAR 781.7 million to SAR 1.04 billion, during an extraordinary general meeting (EGM) held on Feb. 19, the company said in a statement toTadawul.
This will come through distributing 26.1 million bonus shares at one-for-three, making up 33.33% of the planned capital hike. This is besides allocating an additional 320,000 shares, representing 0.41% of post-increase capital, for the long-term employee stock incentive program.
Capital Increase Details
Current Capital
SAR 781.7 mln
Number of Shares
78.2 mln
Percentage of Increase
33.74 %
New Capital
SAR 104.5 bln
New Number of Shares
104.5 mln
Method
– Distributing 26.1 mln bonus shares at one-for-three, representing 33.33% of post-hike capital
– Allocating an additional 320,000 shares, or 0.41% of post-increase capital, for the long-term employee stock incentive program
Value of Reserve
Capitalizing SAR 263.8 mln from retained earnings
Record Date
Feb. 19, 2026, including shareholders registered with Edaa by the end of the second trading day following the EGM date
Reason
To support the company’s growth and boost its financial position
Fractional shares, if any, will be compiled into one portfolio for shareholders and will be sold at market price. The proceeds will then be distributed to eligible shareholders pro rata, within a period not exceeding 30 days from the date of determining the new shares eligible for each shareholder.
Shareholders also approved amending Article (3) of the company’s articles of association related to the company’s objectives.
Meanwhile, they ratified establishing a long-term employee stock incentive program, authorizing the board of directors to set the terms and provisions for the program and conducting any future amendments to it, while taking all necessary procedures to implement it in accordance with laws and regulations.
In a separate statement, the Saudi Exchange (Tadawul) announced that the fluctuation limits on Monday, Feb. 23, for Budget Saudi will be based on a share price ofSAR 43.52 and the outstanding orders will be canceled. Furthermore, the Securities Depository Center (Edaa) will deposit the addition shares into the investor’s portfolios by Wednesday, Feb. 25, 2025.
