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International Waves drops capital increase plan
Amwaj International Company has decided to cancel its planned capital increase from 60 million riyals to 80 million riyals, which was previously proposed, through capitalizing part of the accumulated profits and granting bonus shares to shareholders. This decision comes after a new assessment of the company's financial position, revealing that the balance of retained earnings is no longer sufficient to carry out the increase as originally planned, in accordance with securities issuance regulations. **Summary:** The company has canceled its 33% capital increase plan due to a shortfall in retained earnings needed for its implementation, following a reevaluation of its financial standing in August 2026.
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