Al-Samaani Factory for Metal Industries Co.’s fluctuation limit for its capital increase will be based on a share price of SAR 45.93, the Saudi Stock Exchange (Tadawul) said in a statement on Thursday.
The additional shares will be deposited into investor portfolios on April 16, it added.
Al-Samaani’s extraordinary general assembly on April 11 approved increasing capital to SAR 15 million from SAR 11.25 million, through a 1:3 bonus issue.
The capital raise will be financed by SAR 3.8 million in retained earnings.
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