Almarai gets CMA nod on 25% capital increase

The Saudi market regulator, the Capital Market Authority (CMA), has approved Almarai Co.’s request to increase capital by 25 percent to SAR 10 billion through bonus shares issue, the company said in a statement.

Almarai’s capital will be hiked from SAR 8 billion (800 million shares) to SAR 10 billion (1 billion shares), through issuing 1 bonus shares for each four outstanding shares.

The capital increase will be funded by SAR 2 billion from retained earnings, Almarai said.