Edaa implements securities increase on Arabian Pipes

Logo of Arabian Pipes Co.

The Securities Depository Center Co. (Edaa) applied the increase in the number of Arabian Pipes Co.’s shares to the accounts of eligible shareholders today, July 15, according to a Tadawul statement.

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According to Argaam data, Arabian Pipes shareholders approved recently the board’s proposal for increasing capital by 50% from SAR 100 million to SAR 150 million via a one-for-two bonus issue and the capitalization of SAR 50 million from the retained earnings.