Alkhabeer Capital, a leader in alternative investments, has increased its paid-up capital by SR81.3 million ($21.6 million), a 10 per cent increase to SR894.5 million ($238 million), following the approval of its shareholders at its annual general meeting.
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.
The move to increase paid-up capital comes as the Company ramps up its scale and investment activities this year following the launch of its SR1 billion Alkhabeer REIT, which successfully listed on Tadawul during the first quarter of 2019, bringing the Company’s AUM to SR5.6 billion.
Musaad Mohammad Saad Aldrees, chairman of Alkhabeer Capital, 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.”
The founder and executive director of Alkhabeer Capital Ammar Ahmed Shata, said: “This move will support us in pressing forward with our broader investment diversification strategy, and in increasing our exposure to strategic, target sectors such as healthcare and education.”
Ahmed Saud Ghouth, the CEO of Alkhabeer Capital 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.” – TradeArabia News Service
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