Saudi Market Authority Approves Capital Increase for Holding Fruits Company
RIYADH – The Saudi Market Authority (SMA) has approved the Holding Fruits Company’s request to increase its capital through a rights issue, the regulator announced today. The decision follows a thorough review of the company’s request against established regulatory requirements and qualitative and quantitative standards applied to all capital increase requests. Details of the rights issue will be published in a forthcoming issuance bulletin available to the public.
The SMA cautioned investors against making investment decisions solely based on news of the capital increase, whether stemming from the company’s board suggestion or the authority’s approval of the issuance bulletin.”The investment decision based on announcing the news of the company’s capital increase… without seeing the issuance bulletin and studying its content, may contain high risks,” an SMA representative stated.
Investors are urged to carefully review the issuance bulletin, which contains comprehensive details about the company, potential risks, and relevant factors. The authority emphasized that approval of the issuance bulletin does not guarantee the investment’s feasibility. “The authority’s decision to agree to the issuance bulletin means that the regular requirements have been adhered to according to the financial market system and its executive regulations,” the SMA explained. Investors unsure about the bulletin’s contents are advised to consult a licensed financial advisor.
