Shareholders of Development Works For Food Co. approved on Monday a capital increase to SAR 25 million from SAR 12.5 million through the issue of bonus shares, the company said in a bourse statement.
The stock's fluctuation limit for its capital increase will be based on a share price of SAR 39.5. The additional shares will be deposited into investor's portfolios before trading on Thursday, Sep. 12, 2019.
|
Details of Capital Hike |
|
|
Current Capital |
SAR 12.5 mln |
|
Number of shares |
1.25 mln shares |
|
Increase percentage |
100% (1 share for every outstanding share) |
|
New Capital |
SAR 25 mln |
|
Number of shares after capital hike |
SAR 2.5 mln |
|
Record date |
Sep. 9, 2019 |
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