{"id":18273,"date":"2024-05-22T11:03:21","date_gmt":"2024-05-22T07:03:21","guid":{"rendered":"https:\/\/houranipartners.com\/staging\/?p=18273"},"modified":"2024-06-01T22:24:01","modified_gmt":"2024-06-01T18:24:01","slug":"cma-approves-budget-saudis-application-for-capital-increase","status":"publish","type":"post","link":"https:\/\/houranipartners.com\/staging\/cma-approves-budget-saudis-application-for-capital-increase\/","title":{"rendered":"Hourani secures CMA approval for Budget Saudi capital increase"},"content":{"rendered":"<div class=\"row \"><div class=\"wpv-grid grid-1-1  wpv-first-level first unextended\" style=\"padding-top:0px;padding-bottom:0px\" id=\"wpv-column-c3c086d2d634b936dc4a420a223e695a\" ><\/div><\/div>\n<h4>Hourani &amp; Partners advised United International Transportation Co. (Budget Saudi) with respect to its obtaining the Capital Market Authority\u2019s (CMA) approval to increase Budget Saudi\u2019s capital from SAR 711,666,680 to SAR 781,666,680 by issuing SAR 7m ordinary shares to acquire all shares of Al-Jazira Equipment Company Limited (AutoWorld), through its subsidiary Aljozoor Alrasekha Trucking Co (Rahaal).<\/h4>\n<p>&nbsp;<\/p>\n<p>In December 2023, Budget Saudi and the Saudi Economic and Development Holding Company (SEDCO) signed a significant share purchase and subscription agreement, whereby SEDCO had undertaken to sell all its shares in AutoWorld to Rahaal in exchange for newly issued shares in Budget Saudi.<\/p>\n<p>The transaction was led by partner Hayel Hourani, with support from team members Mine Sekmen, Mustafa Kamal*, Khalid Alhamdan*, Shakir Mabrur, and Lea Hage Chahine and Sophia Niazi.<br \/>\n&nbsp;<br \/>\n<style=\"\u201dfont-size:8vw\u201c\">*Member of ZH Partners \u2013 Relationship firm in Saudi Arabia<\/style>\n","protected":false},"excerpt":{"rendered":"<p>Hourani &amp; Partners advised United International Transportation Co. (Budget Saudi) with respect to its obtaining the Capital Market Authority\u2019s (CMA) approval to increase Budget Saudi\u2019s capital from SAR 711,666,680 to SAR 781,666,680 by issuing SAR 7m ordinary shares to acquire all shares of Al-Jazira Equipment Company Limited (AutoWorld), through its subsidiary Aljozoor Alrasekha Trucking Co&#8230;<\/p>\n","protected":false},"author":1,"featured_media":18320,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"image","meta":[],"categories":[97],"tags":[185,296,300,299,295,301,297,298,294],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Hourani secures CMA approval for Budget Saudi capital increase - Hourani &amp; Partners<\/title>\n<meta name=\"description\" content=\"Hourani &amp; Partners advised United International Transportation Co. (Budget Saudi) with respect to its obtaining the Capital Market Authority\u2019s (CMA) approval to increase Budget Saudi\u2019s capital from SAR 711,666,680 to SAR 781,666,680 by issuing SAR 7m ordinary shares to acquire all shares of Al-Jazira Equipment Company Limited (AutoWorld), through its subsidiary Aljozoor Alrasekha Trucking Co (Rahaal).\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hourani secures CMA approval for Budget Saudi capital increase - Hourani &amp; Partners\" \/>\n<meta property=\"og:description\" content=\"Hourani &amp; Partners advised United International Transportation Co. (Budget Saudi) with respect to its obtaining the Capital Market Authority\u2019s (CMA) approval to increase Budget Saudi\u2019s capital from SAR 711,666,680 to SAR 781,666,680 by issuing SAR 7m ordinary shares to acquire all shares of Al-Jazira Equipment Company Limited (AutoWorld), through its subsidiary Aljozoor Alrasekha Trucking Co (Rahaal).\" \/>\n<meta property=\"og:url\" content=\"https:\/\/houranipartners.com\/staging\/cma-approves-budget-saudis-application-for-capital-increase\/\" \/>\n<meta property=\"og:site_name\" content=\"Hourani &amp; Partners\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-22T07:03:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-01T18:24:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/houranipartners.com\/staging\/wp-content\/uploads\/2024\/05\/26.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"564\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/houranipartners.com\/staging\/cma-approves-budget-saudis-application-for-capital-increase\/\",\"url\":\"https:\/\/houranipartners.com\/staging\/cma-approves-budget-saudis-application-for-capital-increase\/\",\"name\":\"Hourani secures CMA approval for Budget Saudi capital increase - Hourani &amp; Partners\",\"isPartOf\":{\"@id\":\"https:\/\/houranipartners.com\/staging\/#website\"},\"datePublished\":\"2024-05-22T07:03:21+00:00\",\"dateModified\":\"2024-06-01T18:24:01+00:00\",\"author\":{\"@id\":\"https:\/\/houranipartners.com\/staging\/#\/schema\/person\/4ffa15d8c513af66a05b5925d8ca6f5d\"},\"description\":\"Hourani & Partners advised United International Transportation Co. 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