Riyadh – Mubasher: Advanced Petrochemical announced Tuesday that it has obtained an approval from the Capital Market Authority (CMA) to increase the company’s capital by 20% from SAR 1.64 billion to SAR 1.97 billion through distributing 1-for-5 bonus shares.
The bonus shares eligibility will be for shareholders registered till the end of trading on the ordinary general meeting (OGM) date, which will be announced later, according to a bourse filing.
The bonus shares distribution will be financed through transferring SAR 327.99 million from retained profit.
The stock closed yesterday’s trading with a fall of 0.48% to SAR 47.61.
