Riyadh — Mubasher: Methanol Chemicals Company (Chemanol) submitted its application to the Capital Market Authority (CMA) on 30 September 2026 to increase its share capital through a rights issue valued at SAR 350 million.
The filing follows the initial recommendation made by the company's board of directors on 16 May 2024 to bolster the firm's capital base, according to a bourse filing.
Under the proposed plan, Chemanol intends to issue 35 million ordinary shares. Each new share will carry a nominal value of SAR 10.
The submission of the file to the regulator marks a formal step in the approval process required to execute the offering on the Saudi Exchange (Tadawul).
Meanwhile, the company stated that the move is part of its strategic financial planning first disclosed to shareholders on 16 May 2024.
Chemanol further confirmed it will provide further updates regarding the regulatory approval process and any subsequent developments as they occur.
The transaction remains subject to final approval from the CMA and the company’s extraordinary general assembly.
