eXtra’s board proposes 19.05% capital hike

eXtra’s capital will grow to $133.3mln

  

Riyadh – Mubasher: The board members of United Electronics Co (eXtra) has recommended on 7 June an increase of 19.05% in capital through issuing bonus shares, according to a bourse statement on the Saudi Stock Exchange (Tadawul).

Following the increase, eXtra’s capital will grow to SAR 500 million from SAR 420 million, while the number of shares will incline to 50 million from 42 million.

eXtra will distribute 6 million bonus shares to the shareholders as a share for each existing 7 shares, the statement added.

Source: Mubasher

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