Al Naqool Proposes 100% Capital Increase Through Bonus Shares

Mohammed Hasan Al Naqool Sons Company called an extraordinary general meeting for July 27, 2026, to vote on a board proposal to double its capital through bonus shares, the company said in a bourse filing.

The plan would raise capital from SAR 29 million to SAR 58 million by capitalizing SAR 29 million from retained earnings. Each shareholder would receive one bonus share for every share held, bringing the total shares outstanding to 5.8 million.

Al Naqool said the increase supports strategic growth plans, future expansion, and a stronger financial position. Eligibility for the bonus shares is set for the EGM date, with shareholders registered at the Depository Center by the end of the second trading day after the eligibility date qualifying. Any fractional shares will be consolidated and sold at market price within 30 days.

Shareholders will also vote on amending Articles 8 and 9 of the company's bylaws and adding new articles on share buybacks and corporate investments. The Capital Market Authority ratified the capital increase request in June 2026.