Al Kathiri Holding Co.’s board of directors has recommended a 20 percent capital hike to SAR 45.21 million from SAR 37.67 million through the issue of bonus shares.
The capital hike aims to support the company’s capital base and future activities.
The process is pending approval from the general assembly and regulator.
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Key Figures of the Capital Hike |
|
|
Current Capital |
SAR 37.67 mln |
|
Number of shares |
3.77 mln |
|
Hike (%) |
20% (1 share for every 50 shares) |
|
New Capital |
SAR 45.21 mln |
|
New number of shares |
4.52 mln |
|
Financing |
The process will be financed through capitalizing SAR 7.53 mln from retained earnings account |
|
Driver |
To boost the company’s capital to match its business size and future plans. |
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