Saudi Advanced Industries Company (SAIC) has approved a 15.7 percent capital raise from SAR 432 million to SAR 500 million.
The company said on Monday that it plans to issue the capital through one bonus share for every 6.35 shares.
The aim of the move is to expand the company’s future investments.
It also approved a 5 percent cash dividend to be issued as shown below:
|
Capital Raise Details |
|
|
SAR 432 mln |
Current capital |
|
43.20 mln shares |
Number of shares |
|
15.7% (1 share for every 6.35 shares) |
Capital raise percentage |
|
SAR 500 mln |
New capital |
|
50 mln shares |
Number of Shares after raise |
|
April 19, 2015 |
Record date |
|
Cash Dividend Details |
|
|
SAR 21.6 mln |
Cash dividend |
|
5% ( SAR 0.5/share) |
Percent of capital |
|
April 19, 2015 |
Record date |
|
Determined later |
Payment day |
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