Development Works approves capital hike through bonus shares

10/09/2019 Argaam

 

Shareholders of Development Works For Food Co. approved on Monday a capital increase to SAR 25 million from SAR 12.5 million through the issue of bonus shares, the company said in a bourse statement.

 

The stock's fluctuation limit for its capital increase will be based on a share price of SAR 39.5. The additional shares will be deposited into investor's portfolios before trading on Thursday, Sep. 12, 2019.

 

Details of Capital Hike

Current Capital

SAR 12.5 mln

Number of shares

1.25 mln shares

Increase percentage

100% (1 share for every outstanding share)

New Capital

SAR 25 mln

Number of shares after capital hike

SAR 2.5 mln

Record date

Sep. 9, 2019

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