News

Alkhabeer Capital announces a capital increase of 10% to SAR 894.5 million

4 September 2019

Alkhabeer Capital announces a capital increase of 10% to SAR 894.5 million

Strategic move to ramp up activities and scale in 2019

Jeddah, Saudi Arabia – 4 September 2019: Alkhabeer Capital, a prominent asset management company specializing in alternative investments, announces that it has increased its paid-up capital by 81.3 million, a 10 percent increase to SAR 894.5 million, following the approval of its shareholders at the Company’s 7th Annual General Meeting (AGM).

This increase will add 8.1 million shares, bringing the total number of shares to 89.4 million. The new shares will be distributed as stock dividends to current shareholders of the company.

Commenting on this increase, the Chairman of Alkhabeer Capital, Mr. Musaad Mohammad Saad Aldrees, said: “The decision to increase paid-up capital underscores the trust and confidence shareholders have in Alkhabeer’s senior management and our growth strategy. Moreover, this increase is in line with Alkhabeer Capital’s mission of delivering sustainable and superior long-term returns to its shareholders.”

From his side, the Chief Executive Officer of Alkhabeer Capital, Mr. Ahmed Saud Ghouth, said: “Increasing the Company’s paid-up capital provides us with a greater level of flexibility and resilience. Alkhabeer Capital is in a stronger financial position to capitalize on lucrative investment opportunities across our key target sectors, an important step in delivering great value to our clients and shareholders.”

Alkhabeer Capital, headquartered in Jeddah in the Kingdom of Saudi Arabia, specializes in alternative investments and investment services. It is authorized by the Capital Market Authority, license number 07074-37.

 

-Ends-