The Clap
Jabal Omar Development (4250) announced the listing of new shares to be issued to the eligible unit holders of Alinma Makkah Real Estate Fund.
The Deets
The company clarified that the listing of its new shares is due to the decision of its general assembly.
Background
On August 25, Jabal Omar’s general assembly approved the recommendation of the Board of Directors to increase its capital from SAR 9.29 billion to SAR 11.55 billion, by transferring its debts to the Alinma Fund, amounting to SAR 5.30 billion.
What Now
The company will issue 0.442 new ordinary shares per unit to fund unit holders.
Jabal Omar debt transfer deal complete ✅
