Jarir Marketing Co.’s shareholders approved on Sunday a 33.3 percent capital hike to SAR 1.2 billion from SAR 900 million, through bonus shares (one bonus share for every three shares), the company said in a bourse statement.
In a separate statement, the Saudi Stock Exchange (Tadawul) said that the fluctuation limits on Monday for Jarir Marketing Co. will be based on a share price of SAR 141.20.
Furthermore, the Securities Depository Center (Edaa) will deposit the addition shares into the investor’s portfolios by Wednesday, Oct. 31, 2018.
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Key Figures of the Capital Hike |
|
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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 |
|
Driver |
To match the company's capital to its assets. |
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