Niqwa General Assembly approves 33.3% capital boost
The shareholders' meeting of Naqwa Information Technology Company approved a capital increase of 33.33%, from 15 million SAR to 20 million SAR, by issuing free shares to shareholders at a rate of one share for every three shares owned. The increase will be funded from retained earnings amounting to 5 million SAR. The entitlement to these shares will be for the shareholders registered at the end of the second trading day following the record date. The assembly also approved an amendment to the company's articles of incorporation to reflect the capital increase and agreed to handle fractional shares by selling them and distributing the proceeds to the shareholders. Contracts were signed between Naqwa and Al-Shamela Business Services Company for a nominal value, as part of normal business operations, in compliance with commercial regulations. It was confirmed that the new shares will be added before the start of trading on September 28, 2026.
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