Al Rasheed’s board of directors proposed a 50% capital hike through a one-for-two bonus share distribution
Mohammed Hadi Al Rasheed and Partners Co.’s (Al Rasheed) board of directors proposed raising the company’s capital by 50% through a one-for-two bonus share distribution, during a meeting held on Sept. 28, according to a statement toTadawul. 
Capital Increase Details
Current Capital
SAR 120 mln
Current No. of Shares
12 mln
Percentage of Increase
50% (one-for-two bonus shares)
New Capital
SAR 180 mln
New No. of Shares
18 mln
Method
Capitalizing SAR 60 mln from retained earnings
Reasons
The capital increase is part of the company’s strategy, in line with its plans for expansion and growth. It aims to create higher long-term value by investing in various opportunities available to the company, and reaffirming its financial solvency and strong financial position.
Record Date
Shareholders of record registered with Edaa by the end of the second trading day following the record date.
Al Rasheed said any fractional shares, if any, will be aggregated into a single portfolio for all shareholders and sold at market price. The proceeds will be distributed to eligible shareholders on a pro rata basis within 30 days from determining the entitlement to the new shares.
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Al Rasheed’s board of directors proposed a 50% capital hike through a one-for-two bonus share distribution
Mohammed Hadi Al Rasheed and Partners Co.’s (Al Rasheed) board of directors proposed raising the company’s capital by 50% through a one-for-two bonus share distribution, during a meeting held on Sept. 28, according to a statement toTadawul.
Capital Increase Details
Current Capital
SAR 120 mln
Current No. of Shares
12 mln
Percentage of Increase
50% (one-for-two bonus shares)
New Capital
SAR 180 mln
New No. of Shares
18 mln
Method
Capitalizing SAR 60 mln from retained earnings
Reasons
The capital increase is part of the company’s strategy, in line with its plans for expansion and growth. It aims to create higher long-term value by investing in various opportunities available to the company, and reaffirming its financial solvency and strong financial position.
Record Date
Shareholders of record registered with Edaa by the end of the second trading day following the record date.
Al Rasheed said any fractional shares, if any, will be aggregated into a single portfolio for all shareholders and sold at market price. The proceeds will be distributed to eligible shareholders on a pro rata basis within 30 days from determining the entitlement to the new shares.
