Riyadh - Mubasher: The board of Al Hassan Ghazi Ibrahim Shaker Company (Shaker Group) recommended a capital increase to SAR 677.10 million from SAR 555 million, according to a bourse disclosure.

The rise will be implemented through the issuance of 12.21 million new shares by capitalizing SAR 122.10 million from retained earnings.

Of the new shares, 11.10 million will be directed to existing shareholders at one share for every five held shares, while the remaining 1.11 million will be allocated to the employee share program.

The board members proposed the 22% capital hike on 20 August 2025 to support the company’s future plans.

Last May, Shaker Group appointed Abdulelah bin Abdullah Abunayyan as the board’s chairman for a four-year term.