AI Summary
Jarir Marketing Co.’s board of directors has recommended a 33.3 percent capital hike to SAR 1.2 billion from SAR 900 million through the issue of one bonus share for every three share held.
The capital hike aims to match the company's capital to its assets.
The process is pending approval from the general assembly and regulator.
|
Key Figures of the Capital Hike |
|
|
Current Capital |
SAR 900 mln |
|
Number of shares |
90 mln shares |
|
Hike (%) |
33.33% (1 for every 3 shares) |
|
New Capital |
SAR 1.2 bln |
|
New number of shares |
120 mln shares |
|
Method |
Bonus shares |
|
Record date |
General assembly meeting |
|
Driver |
To match the company's capital to its assets. |
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