Saudi DRC’s shareholders to discuss 75% capital increase late June

DRC
9621 -5.41% 34.62 -1.98

Riyadh – Mubasher: Digital Research Company (DRC) has formally announced the invitation of its shareholders to attend an extraordinary general meeting (EGM) on 28 June 2026 to mainly review and vote upon a proposed capital raise, according to a bourse disclosure. 

DRC’s board recommended on 21 April this year a 75% capital hike through bonus shares by capitalizing the full share premium balance of SAR 12.49 million and partial statutory reserve balance of SAR 158,285.

The company plans to increase the capital to SAR 2.95 million distributed over 29.53 million shares, compared with SAR 16.87 million and 1.68 million shares prior to the raise transaction.

DRC will grant three bonus shares for every four shares held by existing shareholders.

By increasing the capital, the company aims to strengthen its capital base and enhance its financial position.

Meanwhile, the bonus share distribution is subject to obtaining the approval of the relevant competent authorities and the shareholders at the EGM on the capital increase and the number of shares to be granted.

Source: Mubasher Source: {{details.article.source}}