Thob Al Aseel Co.’s shareholders are set to vote on a 100 percent capital hike to SAR 300 million from SAR 150 million, on July 4, 2018.
The capital hike, which will be financed from retained earnings account, aims to support the company's capital base which will contribute to future expansions and maintaining solvency margin.
Key Figures of the Capital Hike |
|
Current Capital |
SAR 150 mln |
Number of shares |
15 mln shares |
Hike (%) |
100% (1 for every 1 shares) |
New Capital |
SAR 300 mln |
New number of shares |
30 mln shares |
Method |
Bonus shares |
Driver |
Increasing capital base, supporting expansion plans and solvency margin. |
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