Riyadh – Mubasher: The Capital Market Authority (CMA) approved, in late September 2023, for Obeikan Glass Company to raise its capital from SAR 240 million to SAR 320 million through 80 million bonus shares.
The company will issue one bonus share for every three existing shares to carry out the capital hike transaction, according to an official statement.
Meanwhile, the capital increase will be paid by transferring SAR 80 million from the retained earnings account.
Following the transaction, the number of shares will stand at 32 million shares instead of 24 million.
In January this year, the board of Obeikan Glass proposed a 33.33% capital raise to support its future activities.
