Mouwasat Medical Services Co.’s extraordinary general assembly approved on Sunday a 100 percent capital hike to SAR 1 billion from SAR 500 million through the issue of one bonus share for every share held, the company said in a statement on Tadawul.

 

The process will be financed through capitalizing SAR 500 million from retained earnings.

 

The capital increase aims to support expansion, in addition to boosting solvency margin and financial position.

 

Key Figures of the Capital hike

Current Capital

SAR 500 mln

Number of shares

50 mln shares

Increase (%)

100% (1 for every 1 shares)

New Capital

SAR 1 bln

New number of shares

100 mln shares

Record date

June 3, 2018

Driver

To support strategic assets expansion, network growth, boost solvency margin and financial position

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