Retal board recommends 25% capital increase via bonus issue

20/03/2023 Argaam
Logo ofRetal Urban Development Co.

Logo of Retal Urban Development Co. 

Retal Urban Development Co.’s board of directors recommended increasing the company’s capital by 25% to SAR 500 million via a 1-for-4 bonus-share distribution, according to a statement to Tadawul.

 

Details of Capital Increase

Current capital

SAR 400 mln

Number of shares

50 mln

Percentage of increase

25% (1 share for every 4 shares owned)

New capital after increase

SAR 500 mln

Number of shares

500 mln

Reason

To bolster the company's capital base and future activities.

Method

Distributing 1 share for every 4 shares held through capitalizing SAR 100 mln from retained earnings and SAR 30.3 million from statuary reserves.

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