Advanced petrochemicals announces 16% Capital raise

22/02/2012 Argaam

A 16% capital raise of The Advanced Petrochemicals co. (from SAR 1413mto SAR 1640m) was approved in the Extraordinary general assembly meeting that was held on 21 February, 2012.

 

The Capital raise is to take place by issuing one bonus share to each 6.25 shares owned by registered shareholders as SAR 227m of retained earnings will be capitalized

 

By this issuance the number of outstanding shares will be increased from 141,375,000 shares to 163,995,000.

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