Herfy's board recommends 40% capital raise

21/04/2014 Argaam

Herfy Food Company’s board of directors recommended 40 % capital raise (from SAR 330 m to SAR 462m). The capital raise is intended to support the company's expansion plans, the company said in a filing to Tadawul today.

The Capital raise is to take place by issuing 2 bonus shares to each 5 shares owned by registered shareholders.

By this issuance the number of outstanding shares will increase from 33 m shares to 46.2 m.

 

Capital raise details

SAR 330 mn

Current capital

33 mn shares

Number of shares

40% ( 2 for every 5 shares)

Capital raise (%)

SAR 462 mn

New capital

46.2 mn shares

# of Shares after raise

Extraordinary GA day

Record date
 
 

 

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