Dec 06 2011 |
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Yamama Saudi Cement Board Proposes 50% Bonus Share Issue
Tuesday, Dec 06, 2011
(This story was originally published Monday.)
BEIRUT (Zawya Dow Jones)-- Yamama Saudi Cement Co. (3020.SA) Monday said its board will seek the authority's approval to boost the company's capital by 50% to almost 2.03 billion Saudi riyals ($540 million) from the current SAR1.35 billion.
Yamama Cement , one of the kingdom's largest cement producers, said the board has proposed that the capital hike be carried out via a one-for-two bonus share issue through the capitalization of part of its reserves.
Shares closed up 6.8% to SAR66.25 Monday in a overall positive market.
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
06-12-11 0400GMT
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