ADES sets SAR 1.13 billion bonus issue: what it means for ADES stock

Published on 10/14/2026 at 16:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

ADES proposes one bonus share per share in a 100% plan on October 5, 2026. For ADES stock, approval would create 2.26 billion shares.

Growth plan rests on scale

On October 5, 2026, ADES proposed a 100% capital increase financed with SAR 1.13 billion.
On September 18, 2026, the Saipem acquisition added five jack-up rigs.
First-half 2026 revenue reached SAR 4.54 billion and EBITDA margin was 47.6 percent.

ADES, SA55SG6H5716, Illustration mit AI erstellt.

ADES Holding Company (ISIN SA55SG6H5716) proposed a 100% capital increase financed with SAR 1.13 billion from its share premium account on October 5, 2026. As Argaam reported, shareholders will vote on one bonus share for every existing share at an extraordinary general meeting scheduled for October 28, 2026.

What does the capital plan mean?

The proposal would lift ADES capital from SAR 1.13 billion to SAR 2.26 billion and increase outstanding shares from 1.13 billion to 2.26 billion, subject to shareholder approval. The plan is designed to strengthen equity and support future expansion, rather than raise cash from a new share sale.

The Capital Market Authority approved the capital increase on September 21, 2026. Its resolution states that SAR 1,129,062,513 will move from the share premium account to capital and that the share count will rise by 1,129,062,513 shares.

Three milestones define expansion

ADES completed the acquisition of Saipem's Saudi shallow-water drilling business on September 18, 2026. MEED reported that the transaction added five jack-up rigs and took the fleet to 128 units across 21 countries.

For operating scale, ADES reported SAR 4.54 billion in revenue from contracts with customers for the first half of 2026, a SAR 34.67 billion backlog as of June 30, 2026 and a 47.6 percent EBITDA margin for that half-year on its investor-relations site. The combination of a larger fleet, a substantial backlog and a doubled share count gives the capital vote a clear strategic context.

Market value and shareholder date

ADES stock had a market capitalization of SAR 17.4 billion as of October 14, 2026, while its Tadawul quotation was SAR 15.80 at 3:19 p.m. AST on that date. The next dated corporate milestone is the October 28, 2026 extraordinary general meeting, where shareholders will decide the bonus-share proposal.

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