Riyadh-Mubasher: Saudi Arabia’s Capital Market Authority (CMA) has approved a request from Filing and Packing Materials Manufacturing Co. (FIPCO) to raise its capital by 40% to SAR 161 million from SAR 115 million through distributing two-for-five bonus shares.
The company will capitalise SAR 45.5 million from retained earnings and SAR 430,000 from statutory reserve to finance the capital hike.
Shareholders of record until the close of trading on the date of the upcoming extraordinary general meeting will be eligible for the distribution.
The EGM date will be announced later.
