Al Kathiri Holding Co.’s shareholders have approved a 20 percent capital hike to SAR 45.21 million during the extraordinary general assembly meeting held on April 23, 2019.

 

The capital hike aims to support the company’s capital base and future activities.

 

 In a separate statement, the Saudi stock exchange (Tadawul) said that fluctuation limit of Al Kathiri’s shares on Wednesday will be based on a share price of SAR 40.85.

 

The Securities Depository Center (Edaa) will deposit the additional shares into the investor’s portfolios by Sunday, April 28, 2019, the stock exchange added.

 

Key Figures of the Capital Hike

Current Capital

SAR 37.67 mln

Number of shares

3.77 mln

Hike (%)

20% (1 share for every 50 shares)

New Capital

SAR 45.21 mln

New number of shares

4.52 mln

Record date

April 23, 2019

Financing

The process will be financed through capitalizing SAR 7.53 mln from retained earnings account

Driver

To boost the company’s capital to match its business size and future plans.

 

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