Riyadh – Mubasher: Saudi Transport and Investment’s (Mubarrad) board recommended on Monday raising its capital through a bonus share distribution, at 1:3, representing 33.3% of capital.
The company announced a capital top-up to SAR 240 million from SAR 180 million, so that issued shares will increase to 24 million from 18 million shares, according to a bourse filing on Tuesday.
Mubarrad stated that the proposed capital hike aims to support the company’s future investment plans.
Registered shareholders at the end of trading on the date of holding the extraordinary general meeting (EGM) will be entitled to receive the bonus shares.
