Saudi Chemical Co.’s board of directors has recommended a 33.33 percent capital hike to SAR 843.2 million from SAR 632.4 million through the issue bonus shares.
The capital hike aims to boost the company’s capital base and future activities.
The process is pending approval from the general assembly and regulator.
|
Key Figures of the Capital Hike |
|
|
Current Capital |
SAR 632.4 mln |
|
Number of shares |
63.24 mln |
|
Hike (%) |
33.33% (1 share for every 3 shares) |
|
New Capital |
SAR 843.2 |
|
New number of shares |
84.3 mln |
|
Method |
Capitalizing SAR 210.8 mln from retained earnings account |
|
Record date |
General assembly meeting |
|
Driver |
To boost the company’s capital base and future activities. |
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