Jarir shareholders approve capital hike

29/10/2018 Argaam

 

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.

 

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

Driver

To match the company's capital to its assets. 

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