Thob Al Aseel shareholders approves bonus issue to raise capital to SAR 400 mln

24/10/2021 Argaam

Logo of Thob Al Aseel Co.

Shareholders of Thob Al Aseel Co. approved increasing the company's capital by 33.33%, during the extraordinary general meeting (EGM) held on Oct. 21.

 

The capital will increase to SAR 400 million from SAR 300 million through one-for-three bonus share distribution. 

 

Key Figures of Capital Increase

Current Capital

SAR 300 mln

Number of Shares

30 mln

Increase (%)

33.33% (one share for every three shares held)

New Capital

SAR 400 mln

New Number of Shares

40 mln

Eligibility Date

Oct. 21 for shareholders registered with Edaa at the end of the second trading day following the eligibility date

Driver

Strengthening the company's capital to match the size of its business and future plans, as well as maintaining its solvency

Method of Increase

Capitalizing SAR 100 million from retained earnings and other reserves

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