Al Moammar submits capital hike request to CMA

04/03/2020 Argaam

 

Al Moammar Information Systems Co. (MIS) submitted on March 3 a request to increase capital by capitalizing part of the company’s reserve and retained earnings through the issue of one bonus share for every four shares to the Capital Market Authority (CMA).

 

Any related development will be announced in due course, the company said in a bourse statement on Wednesday.

 

In January 2020, the board of directors of MIS recommended a 25% capital hike to SAR 200 million from SAR 160 million through the issuance of bonus shares. The move aims to support its capital base and future activities.

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