Shares of Yaquin Financial Company rise by more than 8%

The Board of Directors of Yaqeen Financial Company in Saudi Arabia has proposed a significant 70% capital increase by capitalizing a portion of retained earnings, offering 0.7 new shares for every existing share, according to a disclosure on the Saudi Stock Exchange (Tadawul).

This proposed increase aims to raise the company’s capital from 150 million riyals to 255 million riyals. The strategic move is designed to support business expansion, enhance service development, and create long-term growth opportunities.

Yaqeen Financial highlighted that the implementation of this increase depends on the approval of both regulatory authorities and the extraordinary general assembly. Shareholder eligibility will be determined based on registration in the depository center's record at the end of the second trading day following the entitlement date.

For fractional shares, the company will consolidate these into a single portfolio, selling them at prevailing market prices. The proceeds will then be distributed to shareholders in accordance with their shareholding ratios within a maximum period of 30 days after determining the new shares allocated to each investor.

On the market front, Yaqeen Financial’s share (TADAWUL: 9602) saw a robust 8.54% increase, equivalent to a 2.10 riyal gain per share, reaching a trading price of 26.70 riyals during Saudi market transactions.

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