Al Othaim board recommends 100% capital hike

20/03/2018 Argaam

 

Abdullah Al Othaim Markets Co.’s board of directors has recommended a 100 percent capital hike to SAR 900 million from SAR 450 million, through the issue of one bonus share for every one share held.

 

The capital hike, which will be financed from retained earnings account, aims to support the company's strategic growth plans and expanding its business and branches. 

 

The process is pending approval from the general assembly and market regulator.

  

Key Figures of the Capital Hike

Current Capital

SAR 450 mln

Number of shares

45 mln shares

Hike (%)

100% (1 for every 1 share)

New Capital

SAR 900 mln

New number of shares

90 mln shares

Method

Bonus shares

Driver

Supporting expansion plans

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