Logo of AICTEC
Shareholders of Advance International Company for Communication and Information Technology (AICTEC) will vote on increasing the company’s capital from SAR 20 million to SAR 25 million through a 25% bonus shares (one-for-four shares), during the extraordinary general meeting (EGM) scheduled for Aug. 18, according to a bourse statement.
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Details of Capital Increase |
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Current capital |
SAR 20 mln |
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Number of shares |
2 mln |
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Capital increase % |
25% (one share for every four shares held) |
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Capital after increase |
SAR 25 mln |
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Number of shares after increase |
2.5 mln |
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Objective |
To support the company's financial position and future expansions |
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Method of increase |
Capitalizing SAR 5 mln from retained earnings. |
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Record date |
Aug. 18 (Shareholders registered with Edaa by the close of the second trading day after the record date) |
AICTEC began trading on Nomu-Parallel Market on Jan. 6, 2022.
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