SPIMACOADDWAEIH board recommends 52.98 % capital raise

      SPIMACOADDWAEIH board recommended 52.98% capital raise (from SAR 784.38 m to SAR 1200 m) in a meeting held on 20/02/2014. The capital raise is intended to finance future expansions, the company said.

The Capital raise is to take place by issuing 9 bonus share to each 17 shares owned by registered shareholders, as SAR 78.44 m  of retained earnings will be capitalized.

By this issuance the number of outstanding shares will increase from 78.44 m shares to 120 m.