Saudi Ceramic mulls 33.3% capital raise

The capital hike is subject to the approval of competent bodies and the extraordinary assembly

  
A Saudi trader observes the stock market on monitors at Falcom stock exchange agency in Riyadh, Saudi Arabia February 7, 2018.

A Saudi trader observes the stock market on monitors at Falcom stock exchange agency in Riyadh, Saudi Arabia February 7, 2018.

REUTERS/Faisal Al Nasser
Riyadh – Mubasher: Saudi Ceramic Company’s board of directors recommended raising the company’s capital by 33.3% through granting bonus shares.

Hence, the company’s capital will be increased to SAR 800 million from SAR 600 million through capitalising SAR 200 million from the retained earnings, according to a bourse disclosure on Thursday.

The capital hike, subject to the approval of competent bodies and the extraordinary assembly, aims to support the company’s future expansions.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Equities