Riyadh – Mubasher: The Capital Market Authority (CMA) approved the requests of Thimar Development Holding Company and Al Omran Industrial Trading Company to increase their capital through rights issues.
Thimar will increase its capital by SAR 150 million, while Al Omran plans to raise its capital by SAR 60 million, according to bourse disclosures.
CMA greenlighted and Al Omran and Thimar’s capital hike on 10 and 11 September 2023, respectively.
In the first half (H1) of 2023, Thimar incurred net losses after Zakat and tax valued at SAR 1.56 million, versus net profits worth SAR 33.09 million in H1-22.
Operating losses amounted to SAR 2.52 million in the January-June 2023 period, up 6.13% year-on-year (YoY) from SAR 2.37 million.
