The BOD of Saudi Marketing Company (Farm Superstores)recommended 40 % capital raise (from SAR250 m to SAR 350m) in a meeting held today. The capital raise is intended to support the company’s expansion plans, enhance its capital base and achieve higher growth rates in the coming years; the company said in its filing to Tadawul today.
The Capital raise is to take place by issuing 2 bonus shares to each 5 shares owned by registered shareholders.
By this issuance the number of outstanding shares will increase from 25 mn shares to 35 mn.
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Capital raise details |
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SAR 250 mn |
Current capital |
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25 mn shares |
Number of shares |
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40% ( 2 for every 5 shares) |
Capital raise (%) |
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SAR 350 mn |
New capital |
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35 mn shares |
# of Shares after raise |
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Extraordinary GA day |
Record date |
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