Fesh Fash board recommends 50% capital hike via bonus issue

Fesh Fash capital increase aims to support the company’s growth plan and strengthen its financial position

Fesh Fash Snack Food Production Co.’s board of directors recommended, on Jan. 11, a 50% capital top-up, through distributing one bonus share for every two shares held, as follows:

Any fractional shares will be pooled in a single portfolio for all shareholders and sold at market prices, with proceeds distributed to eligible shareholders on a pro rata basis within a maximum of 30 days, the company said in a statement to Tadawul.

The decision is subject to obtaining the approval of the relevant regulatory authorities and the extraordinary general assembly (EGM) for the increase in capital and the number of shares granted, the statement added.