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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