Riyadh – Mubasher: The Capital Market Authority (CMA) approved the request of Makkah Construction and Development Company to increase its capital from SAR 1.64 billion to SAR 2 billion.
In order to implement the transaction, the company will issue a 0.21 bonus share for each owned share, according to a bourse filing.
Makkah Construction will transfer SAR 351.83 million from the statutory reserve account. Consequently, its shares will increase to 200 million shares from 164.81 million shares.
In the first nine months (9M) of 2024, the Saudi group recorded 26.95% higher net profits at SAR 325 million, compared to SAR 256 million in 9M-23.
