Al Tayyar Travel Group's board of directors has recommended a 43 percent capital hike to SAR 3 billion from SAR 2.096 million through issuance of three bonus shares for every seven shares held.
The group will use the capital increase proceeds to finance expansions.
The capital hike will be financed through capitalizing SAR 707.35 million from stock issuance premiums and SAR 196.16 million from the statutory reserve.
The process is pending approval from the extraordinary general assembly meeting and market regulator.
|
Key Figures of the Capital Hike |
|
|
Current Capital |
SAR 2096.5 mln |
|
Number of shares |
209.65 mln shares |
|
Hike (%) |
43% (3 shares for every 7 shares held) |
|
New Capital |
SAR 3000 mln |
|
New number of shares |
300 mln shares |
|
Record date |
Shareholders registered at the Securities Depository Center (Edaa) by the end of the second day after the extraordinary general assembly meeting |
|
Driver |
To finance expansions |
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