Almarai approves 25% capital hike through bonus issue

09/10/2017 Argaam

 

Almarai Co.’s extraordinary general assembly on Sunday approved the board recommendation to increase capital by 25 percent to SAR 10 billion, from SAR 8 billion through a bonus share issue, the company said in a bourse statement.

 

The Saudi Stock Exchange said in a separate statement that the fluctuation limits on Monday  for Almarai will be based on a share price of SAR 55.95. The Securities Depository Center (Edaa) will deposit the additional shares into the investor portfolios by Oct. 11, it added. 

 

Capital Hike Details

Current capital

SAR 8 bln

Current No. of shares

800 mln

Percentage of Increase

25 percent (1-for-4 bonus shares)

Post-increase capital

SAR 10 bln

Post-increase shares

1,000 mln

Eligibility Date

Oct. 8, 2017

Purpose

Matching capital to assets size

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