Riyadh – Mubasher: The board of Advance International Company for Communication and Information Technology has approved to increase the company's capital by 25% via a bonus share distribution.
The company will raise its capital to SAR 25 million from SAR 20 million by granting one share for every four shares, according to a bourse filing on Thursday.
The capital will increase by capitalising SAR 5 million from the retained earnings account.
This step aims to support the company's financial position and future expansion needs and aspirations.
It is noteworthy to mention that on 6 January, the company started the listing and trading of its shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul).
