Saudi Company for Hardware’s (SACO) shareholders approved a 50 percent capital hike to SAR 360 million from SAR 240 million through the issuance of one bonus share for every two shares held, the company said in a statement to Tadawul on Tuesday.
The company will recapitalize SAR 62.3 million from its statutory reserve and SAR 57.7 million from retained earnings to fund the capital increase.
Key Figures of the Capital Hike |
|
Current Capital |
SAR 240 mln |
Number of shares |
24 mln shares |
Hike (%) |
50% (1-for-2 bonus shares) |
New Capital |
SAR 360 mln |
Number of shares after increase |
36 mln shares |
Record date |
The second trading day after the general assembly meeting |
Driver |
Boost the company’s capital to go in line with total assets |
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}