Logo of First Avenue Real Estate Development Co.
First Avenue for Real Estate Development Co.’s shareholders, in an extraordinary general meeting (EGM) held on June 15, approved a board recommendation to increase the company’s capital by 46.34% from SAR 205 million to SAR 300 million via bonus share issuance, according to a statement toTadawul. 
Capital Increase details
Current Capital
SAR 205 mln
Number of Shares
205 mln
Nominal Value
SAR 1 per share
New Capital
SAR 300 mln
Number of New Shares
300 mln
Percentage of Increase
46.34% (granting 9 bonus shares for every 20 shares owned by the company’s shareholders registered at the end of the eligibility date. In addition, 2.75 million treasury shares, representing 1.3% of the company’s current capital, will be designated to the employee stock incentive program.
Reason
To strengthen the company’s capital base in line with business growth and expansion of its real estate projects. It will also reinforce the firm’s financial position, supporting future plans and strategies to enhance shareholders’ equity.
Method
By capitalizing SAR 95 million from the share premium account.
Record Date
June 15, 2026, including shareholders registered with Edaa on the second trading day following the record date
Fractional shares, if any, will be compiled in one portfolio to be offered at the market price, the statement said. The proceeds will be distributed among eligible shareholders pro rata within 30 days.
In a separate statement, the Saudi Exchange (Tadawul) announced that the fluctuation limits on June 16 for First Avenue will be based on a share price ofSAR 4.73 and the outstanding orders will be canceled. Furthermore, the Securities Depository Center (Edaa) will deposit the addition shares into the investor’s portfolios by June 18, 2026.
Logo of First Avenue Real Estate Development Co.
First Avenue for Real Estate Development Co.’s shareholders, in an extraordinary general meeting (EGM) held on June 15, approved a board recommendation to increase the company’s capital by 46.34% from SAR 205 million to SAR 300 million via bonus share issuance, according to a statement toTadawul.
Capital Increase details
Current Capital
SAR 205 mln
Number of Shares
205 mln
Nominal Value
SAR 1 per share
New Capital
SAR 300 mln
Number of New Shares
300 mln
Percentage of Increase
46.34% (granting 9 bonus shares for every 20 shares owned by the company’s shareholders registered at the end of the eligibility date. In addition, 2.75 million treasury shares, representing 1.3% of the company’s current capital, will be designated to the employee stock incentive program.
Reason
To strengthen the company’s capital base in line with business growth and expansion of its real estate projects. It will also reinforce the firm’s financial position, supporting future plans and strategies to enhance shareholders’ equity.
Method
By capitalizing SAR 95 million from the share premium account.
Record Date
June 15, 2026, including shareholders registered with Edaa on the second trading day following the record date
Fractional shares, if any, will be compiled in one portfolio to be offered at the market price, the statement said. The proceeds will be distributed among eligible shareholders pro rata within 30 days.
In a separate statement, the Saudi Exchange (Tadawul) announced that the fluctuation limits on June 16 for First Avenue will be based on a share price ofSAR 4.73 and the outstanding orders will be canceled. Furthermore, the Securities Depository Center (Edaa) will deposit the addition shares into the investor’s portfolios by June 18, 2026.
