Mouwasat Medical Services Co.’s extraordinary general assembly approved on Sunday a 100 percent capital hike to SAR 1 billion from SAR 500 million through the issue of one bonus share for every share held, the company said in a statement on Tadawul.
The process will be financed through capitalizing SAR 500 million from retained earnings.
The capital increase aims to support expansion, in addition to boosting solvency margin and financial position.
|
Key Figures of the Capital hike |
|
|
Current Capital |
SAR 500 mln |
|
Number of shares |
50 mln shares |
|
Increase (%) |
100% (1 for every 1 shares) |
|
New Capital |
SAR 1 bln |
|
New number of shares |
100 mln shares |
|
Record date |
June 3, 2018 |
|
Driver |
To support strategic assets expansion, network growth, boost solvency margin and financial position |
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