solutions OKs 100% capital hike via bonus issue
Logo of Arabian Internet and Communications Services Co. (solutions)
Arabian Internet and Communications Services Co. (solutions) said its shareholders approved on Oct. 6 the board of directors’ recommendation to increase capital by 100% through the distribution of one bonus share for every share held, by capitalizing SAR 1.2 billion from retained earnings.
|
Capital Increase Details |
|
|
Current Capital |
SAR 1.2 bln |
|
Number of Shares |
120 mln |
|
New Capital |
SAR 2.4 bln |
|
Number of Shares |
240 mln |
|
Increase Percentage (%) |
100% |
|
Method |
One bonus share for every share held |
|
Nature of Increase |
Capitalizing SAR 1.2 bln from retained earnings |
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Record Date |
Oct. 6, 2026 (Shareholders of record and those registered with Edaa at the end of the second trading day following the record date) |
|
Reason |
To achieve the expansion and growth strategy and maximize shareholder returns by increasing and diversifying investments and capitalizing on expected growth opportunities in the information technology sector in Saudi Arabia and the region. |
Share fractions, if any, will be compiled into one portfolio and sold at market price, with the proceeds distributed pro rata, within 30 days.
Shareholders also approved amendments to the policy governing the nomination and remuneration of board members and its committees, as well as executive management remuneration.
Separately, the Saudi Exchange (Tadawul) announced that the daily price fluctuation limit for the company’s shares was calculated based on a share price of SAR 107 for today, Oct. 7, 2026, and that outstanding orders were canceled.
The Securities Depository Center Co. (Edaa) will deposit the bonus shares into shareholders’ portfolios before the start of trading on Oct. 11, 2026.
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