SISCO approves 20% capital hike

Saudi Industrial Services Co.’s extraordinary general assembly approved on Sunday increasing capital by 20 percent to SAR 816 million from SAR 680 million through the issue of one bonus share for every five shares held, the company said in a statement to Tadawul.

The capital hike is aimed at aligning the company's capital to its assets level and to finance expansions.

Meanwhile, the Saudi Stock Exchange (Tadawul) has set SISCO’s fluctuation limit for the capital hike at a share price of SAR 12.29. It also deposited the bonus shares into investor portfolios.