Riyadh – Mubasher: The Capital Market Authority (CMA) approved the capital hike requests of Atlas Elevators General Trading and Contracting Company and Multi Business Group Company, according to bourse statements.
Atlas Elevators intends to raise its capital to SAR 90 million from SAR 60 million by issuing one bonus share for every two owned shares.
The company will transfer SAR 17.30 million from the retained earnings account and SAR 12.70 million from the share premium account to implement the transaction. Hence, the number of its shares will increase to 9 million, instead of 6 million shares.
Multi Business Group will also raise its capital by issuing two bonus shares for every existing share through the capitalization of SAR 30 million from the share premium account. The new capital will stand at SAR 45 million, compared to SAR 15 million prior to the hike.
