Saudi Arabia’s market regulator, the Capital Market Authority (CMA), approved on Thursday Astra Industrial Group’s request to raise its capital from SAR 741 million to SAR 800 million.
 
The company plans to issue five bonus shares for every 63 shares owned by registered shareholders by the date of the extraordinary general assembly meeting. 
 
The company will transfer SAR 58.8 million from its retained earnings account to pay for the increase. 
 
Shares will be increased from 74.1 million to 80 million.
 
Bonus shares eligibility is limited to shareholders who are listed in the company’s registry at the close of trading on the day of the extraordinary general assembly, which will be determined later by the company's board. The assembly meeting should be held within six months from the approval date, according to market rules. 
 
The CMA’s approval is conditional on the group satisfying regulatory requirements and any other applicable laws.
 

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