The board of Saudi Industrial Services Co. (SISCO) has proposed raising capital by 20 percent to SAR 816 million from SAR 680 million by issuing one bonus share for every five shares held.
The company will use SAR 136 million from its retained earnings to fund the capital hike, it said in a statement.
While the capital hike aims to adjust the company's capital to its assets level, and to address the cash requirements for expansion, it is still pending regulatory approvals, SISCO added.
|
Capital Hike Details |
|
|
Current capital |
SAR 680 mln |
|
Number of shares |
68 mln |
|
Percentage |
20 percent (1: 5 bonus shares) |
|
Capital after increase |
SAR 816 mln |
|
Shares after increase |
81.6 mln |
|
Record date |
General assembly meeting |
|
Aim |
To adjust the company's capital to its assets level, and to meet the cash requirements for expansion |
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}