Leen Alkhair board raises capital hike proposal to 100%

21/05/2023 Argaam

Leen Alkhair board raises capital hike proposal to 100%

Logo of Leen Alkhair Trading Co.

Leen Alkhair Trading Co.’s board of directors amended, on May 20, its previous capital increase recommendation to 100% from SAR 40.80 million to SAR 81.60 million.

 

The previous recommendation was to increase capital by 74% to SAR 71 million from SAR 40.80 million.

 

Capital Increase Details After Amendment

Current Capital

SAR 40.80 mln

Number of Shares

4.08 mln

Percentage of Increase

100%

Method


One bonus share for every share held


 

New Capital

SAR 81.60 mln

Number of Shares

8.16 mln

Reason

The company aims to boost its strategic growth plan and the needs and aspirations of future expansions and to confirm its financial solvency, in addition to strengthening its financial position

Record Date

 

Shareholders owning the shares in the Securities Depository Center Co. (Edaa) register by the end of the second trading day after the record date.

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