21 Hrs
Source:
الاقتصادية
Saudi Financial Market approves Ades capital boost
The Capital Market Authority has approved a 100% increase in the share capital of Saudi Ades Holding Company, raising it from 1.13 billion SAR to approximately 2.26 billion SAR. This will be achieved through the issuance of one free share for every existing share to shareholders. The purpose of this increase is to support the company's long-term growth strategy and strengthen its financial structure, with the additional funds generated from transferring the surplus from the "Share Premium" account. After the increase, the total number of shares will rise to approximately 2.29 million shares. The company continues to focus on expanding its global operations in oil and gas drilling services, backed by assets and a fleet that operate across 20 countries. In the first half of 2026, the company recorded revenues of 4.54 billion SAR, with cumulative business value reaching 34.67 billion SAR, and its fleet utilization rate stood at 97.6%.
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