Logo ofTaiba Investments Co.
The Capital Market Authority (CMA) approvedTaiba Investments Co.’s request to increase capital by 92%, from SAR 2.6 million to SAR 5 million, through a 1-for-1.09 bonus share issue. 
Subscription eligibility will be limited to shareholders registered with the Security Depository Center (Edaa) as of the closing of the second trading day after the deciding extraordinary general meeting (EGM), the date for which is yet to be set by the company’s board of directors, according to a statement today, April 8.
The CMA said the planned capital hike will be paid by capitalizing SAR 1 billion from the statutory reserve and SAR 1.39 billion from the share premium balance. Consequently, the company’s outstanding shares will rise from 260.5 million to 500 million.
The EGM shall be held within six months from this approval date, and the company shall satisfy all regulatory requirements and applicable laws, the statement added.
According to Argaam’s data, Taiba’s board of directors, on March 1, recommended a 91.97% capital increase (granting 0.9197 share for each share owned) to SAR 5 billion from SAR 2.6 billion by capitalizing SAR 2.39 billion from the statutory reserve and share premium balance.
Capital Increase Details
Current Capital
SAR 2.6 bln
Number of Shares
260.46 mln
New Capital
SAR 5 bln
New Number of Shares
500 mln
Percentage Increase
91.97%
Reason
To strengthen the company’s capital structure, support its growth and expansion requirements in line with its strategic direction, and reinforce the strength and solidity of its financial position.
Share Offerings
0.9197 share for each share held
Method
Capitalizing SAR 2.39 billion from the statutory reserve and share premium balance, as follows:
Capitalizing SAR 1 bln from the statutory reserve.
Capitalizing SAR 1.39 bln from the share premium balance.
Record Date
Shareholdersof record who areregistered with Edaaby the end of thesecond trading day following the record date
Logo ofTaiba Investments Co.
The Capital Market Authority (CMA) approvedTaiba Investments Co.’s request to increase capital by 92%, from SAR 2.6 million to SAR 5 million, through a 1-for-1.09 bonus share issue.
Subscription eligibility will be limited to shareholders registered with the Security Depository Center (Edaa) as of the closing of the second trading day after the deciding extraordinary general meeting (EGM), the date for which is yet to be set by the company’s board of directors, according to a statement today, April 8.
The CMA said the planned capital hike will be paid by capitalizing SAR 1 billion from the statutory reserve and SAR 1.39 billion from the share premium balance. Consequently, the company’s outstanding shares will rise from 260.5 million to 500 million.
The EGM shall be held within six months from this approval date, and the company shall satisfy all regulatory requirements and applicable laws, the statement added.
According to Argaam’s data, Taiba’s board of directors, on March 1, recommended a 91.97% capital increase (granting 0.9197 share for each share owned) to SAR 5 billion from SAR 2.6 billion by capitalizing SAR 2.39 billion from the statutory reserve and share premium balance.
Capital Increase Details
Current Capital
SAR 2.6 bln
Number of Shares
260.46 mln
New Capital
SAR 5 bln
New Number of Shares
500 mln
Percentage Increase
91.97%
Reason
To strengthen the company’s capital structure, support its growth and expansion requirements in line with its strategic direction, and reinforce the strength and solidity of its financial position.
Share Offerings
0.9197 share for each share held
Method
Capitalizing SAR 2.39 billion from the statutory reserve and share premium balance, as follows:
Capitalizing SAR 1 bln from the statutory reserve.
Capitalizing SAR 1.39 bln from the share premium balance.
Record Date
Shareholdersof record who areregistered with Edaaby the end of thesecond trading day following the record date
