The Capital Market Authority (CMA) has approved a request by Abdulla A.M. Al-Khodari Sons Company to amend its maximum capital increase by converting the approved debt to SAR 1.12 billion instead of SAR 1.02 billion, it said in a statement on Sunday.

 

The approval is conditional on the company's extraordinary general assembly approval and completion of necessary regulatory procedures and requirements.

 

In May,  the CMA had approved Al-Khodari's request to increase its capital from SAR 557.81 million to SAR 1.02 billion through debt conversion.

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