Saudi Arabia Capital Markets Authority issued a resolution approving Arabian Plastic Industrial Company’s request to increase its capital from SAR 50,000,000 to SAR 75,000,000 through the issuance of bonus shares. The increase will be implemented by issuing one bonus share for every two existing shares to shareholders registered in the shareholders registry at the Security Depository Center as of the close of the second trading day after a due date to be determined by the company’s board. The capital increase will be funded by transferring SAR 25,000,000 from the retained earnings account to share capital, increasing outstanding shares from 5,000,000 to 7,500,000, an addition of 2,500,000 shares. An extraordinary general assembly must be held within six months of the approval, and the company is required to satisfy all regulatory requirements and applicable laws.
Saudi Arabia Capital Markets Authority 2025-01-14
Saudi Arabia Capital Markets Authority approves Arabian Plastic Industrial Company capital increase to SAR 75 million through 1-for-2 bonus share issue
The Saudi Arabia Capital Markets Authority approved Arabian Plastic Industrial Company's request to increase its capital from SAR 50 million to SAR 75 million by issuing one bonus share for every two existing shares, funded by transferring SAR 25 million from retained earnings. An extraordinary general assembly must be held within six months, and the company must comply with all regulatory requirements.