Etihad GO Telecom Co. (GO) Announces the Saudi Central Bank’s Approval to Increase the Capital of Its Subsidiary, Alhulul Almuntilaqa Company (GO Money), from SAR 20 Million to SAR 138 Million
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| Announcement Detail | Etihad GO Telecom Co. (GO) announces that its wholly owned subsidiary, Alhulul Almuntaliqa Company (GO Money), obtained, on 19/04/1448H corresponding to 30/09/2026G, the approval of the Saudi Central Bank (SAMA) to increase its capital from SAR 20 million to SAR 138 million, representing an increase of SAR 118 million, equivalent to 590% of the current capital. The capital increase will be funded through an additional cash contribution of SAR 100 million by Etihad GO Telecom Co. (GO), in addition to the capitalization of SAR 18 million from previous additional capital contributions made to the subsidiary. The capital increase aims to strengthen the financial position of Alhulul Almuntaliqa Company (GO Money) and support the growth of its business and financing portfolio, while Etihad GO Telecom Co. (GO) will continue to own 100% of the subsidiary’s share capital following the completion of the capital increase. Alhulul Almuntaliqa Company (GO Money) will complete the necessary statutory and regulatory procedures to implement the capital increase, including amending its Articles of Association and completing the registration with the relevant authorities. The financial impact of the transaction will be reflected in the financial statements of both Etihad GO Telecom Co. (GO) and its subsidiary, Alhulul Almuntaliqa Company (GO Money), in accordance with the applicable accounting standards. |
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