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Solutions GA reviews full capital boost
Arabia Internet and Communications Services Company (Solutions) has decided to double its capital by issuing free shares to its shareholders, aiming to support expansion and growth plans in the IT sector within Saudi Arabia and the region. The capital will be increased from 1.2 billion riyals to 2.4 billion riyals by capitalizing 1.2 billion riyals of retained earnings. Each shareholder will receive one free share for every share they hold at the time of entitlement, increasing the total number of shares from 120 million to 240 million. This move seeks to enhance returns and expand investments, with the company's bylaws being amended to align with the increase, and the evaluation of Board members' remuneration. Electronic voting is set to begin on October 2, 2026.
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