Published: May 29, 2013
Saudi dairy company will increase share capital by 50% to SAR6bn.
Almarai Company, a Saudi dairy products group, plans to increase its share capital to SAR6bn (US$1.6bn) from SAR4bn.
The company will distribute one bonus share for every two outstanding shares, increasing the number of its shares to 600mn from 400mn.
In a statement to the Tadawul, the Saudi stock exchange, the company’s management team said a stronger equity base will help to expand the company’s financing capabilities.