Al Kathiri shareholders approve 20% capital hike through bonus shares

26/08/2018 Argaam

 

Al Kathiri Holding Co.’s shareholders approved on Aug. 16 a 20 percent capital hike to SAR 37.67 million from SAR 31.39 million through issuance of one bonus share for every five shares held, the company said in a bourse statement on Sunday.

 

The process will be financed through capitalizing SAR 5.98 million from retained earnings and SAR 295,620 from the company’s statutory reserve.

 

Al Kathiri’s outstanding shares will be increased to 3.78 million from 3.14 million shares.

 

The capital increase aims to boost the company’s capital base and solvency margin, enhance growth rates and maintain future expansions.

 

Meanwhile, Al Kathiri’s daily trading fluctuation limit following the capital hike will be based on a share price of SAR 28.10 as of today, Aug. 26, the Saudi Stock Exchange (Tadawul) said in a statement.

 

The Securities Depository Center (Edaa) will deposit the additional shares into the investor’s portfolios by Aug. 28, Tadawul added.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read