Riyadh – The shareholders of Zahrat Al Waha for Trading Company have agreed to a 50% capital increase by granting one bonus share for every two owned shares.

The Saudi listed firm will raise its capital from SAR 150 million to SAR 225 million by capitalising SAR 75 million from the retained earnings account, according to a bourse filing on Tuesday.

Accordingly, the new capital will be distributed over 22.50 million shares, compared to 15 million shares prior to the capital hike.

It is worth noting that in the third quarter (Q3) of 2021, Zahrat Al Waha logged net profits after Zakat and tax worth SAR 7.47 million, an annual growth of 3.70% from SAR 7.19 million.

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