Riyadh-Mubasher: Filing and Packing Materials Manufacturing Co. (FIPCO) said the board recommended increasing capital by 40% from SAR 115 million to SAR 161 million.
The top-up will be effected through distributing bonus shares at 2-for-5.
The move will be financed through capitalising SAR 46 million from retained earnings.
The increase aims to boost the company's future expansions.
Shareholders of record on the date of extraordinary general meeting, which will be defined later, will be eligible for the distribution.
