Riyadh – Mubasher: Saudi Capital Market Authority (CMA) approved the required capital hike of Aldrees Petroleum and Transport Services Co, according to a bourse filing on Tuesday.
The company’s board proposed increasing the company's capital through bonus shares from SAR 400 million to SAR 500 million, with a rise by 25%.
The number of shares will level up from 40 million to 50 million shares by offering 1 bonus share for every 4 shares owned.
The top up will be done through capitalising SAR 100 million from account retained earnings.
