The board members of Al Modawat Specialized Medical Company recommended increasing the capital to SAR 71.25 million from SAR 23.75 million.

The company will grant two bonus shares for each owned share, according to a bourse filing.

Following the transaction, the new capital will be distributed over 71.25 million shares, instead of 23.75 million shares.

The board recommended the 200% capital hike to expand the company’s activities and support its growth strategy to meet the growing demands.

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