Edaa implements securities increase on Alkhorayef Water

Logo of Alkhorayef Water and Power Technologies Co. 

The Securities Depository Center Co. (Edaa) announced implementing a securities quantity increase for Alkhorayef Water and Power Technologies Co. on the center’s accounts of eligible shareholders as of today, May 28, according to a statement to Tadawul.

Shareholders approved on May 23 the board's recommendation on increasing capital by 40% to SAR 350 million via a 1-for-2.5 bonus-share distribution. The capital hike will be financed through capitalizing SAR 100 million from retained earnings, Argaam earlier reported.