Riyadh – Mubasher: United International Transportation Company (Budget Saudi Arabia) said that the request it submitted to the Saudi Capital Market Authority (CMA) for increasing the capital from SAR 508.3 million to SAR 610 million has been approved.
The company's board of directors earlier proposed capital increase through the distribution of bonus shares at 1-for-5.
The extra capital would come from using more than SAR 101.6 million from retained earnings.
The bonus shares eligibility is limited to the shareholders registered by the end of trading on the date due to be set for general meeting.
