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Market Authority approves Cinemacy Capital Increase
The Capital Market Authority approved an increase in Synomi Centers' capital from 4.75 billion Riyals to 5.176 billion Riyals, through a free bonus share distribution of one share for every 12 existing shares. The increase is based on the transfer of 426.59 million Riyals from retained earnings. The company will strengthen its capital by issuing approximately 42.66 million additional shares, with the extraordinary general assembly to be held within six months of the approval to complete the legal procedures.
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