Riyadh – Mubasher: Thimar Development Holding Company announced that its board of directors recommended, on 7 July 2026, a capital increase of SAR 130 million through a rights issue.
The proposal is subject to the approval of relevant regulatory authorities and the company’s shareholders at an upcoming extraordinary general assembly.
The company stated that the primary objectives of the capital hike are to support its commitment to executing a financial reorganization plan and to enhance cash liquidity.
The proceeds are also intended to ensure business continuity, meet outstanding obligations, and enable the company to pursue investment opportunities aimed at generating returns and fostering growth.
Eligibility for the rights issue will be granted to shareholders owning shares on the day of the extraordinary general assembly meeting, provided they appear in the company’s register at the Securities Depository Center at the end of the second trading day following the meeting.
Thimar will appoint a financial advisor and submit the capital increase file to the Capital Market Authority (CMA) at a later date.
In June, Thimar signed a binding agreement to sell its entire investment in the Business Square Four Directions Osool and Bakheet Development Fund.
