CMA greenlights Munawla Cargo’s capital hike

Riyadh – Mubasher: Munawla Cargo Company obtained the approval of the Capital Market Authority (CMA), on 19 September 2024, to increase its capital to SAR 20 million from SAR 10 million.

The Saudi firm will grant one bonus share for every owned share, according to a bourse disclosure.

Munawla Cargo will allocate SAR 10 million from the retained earnings account to implement the transaction.

The number of shares will rise to 2 million from 1 million following the process.

Meanwhile, the extraordinary general assembly shall be held within six months from this approval date.

Source: Mubasher Source: {{details.article.source}}