Apico Secures Saudi CMA's Approval for Capital Increase
Arabian Plastic Industrial Co. (SASE:9548), d/b/a Apico, secured approval from Saudi Arabia's Capital Market Authority to increase its capital by issuing one bonus share for every three existing shares held by shareholders. The plastic packaging and thermoplastic injection molding company's capital will increase to 102 million Saudi riyals from 75 million riyals through a transfer of 26.6 million riyals from retained earnings and 385,957 riyals from additional capital accounts, according to a Thursday release. The company will hold its extraordinary general assembly within six months to fulfill all regulatory requirements.
Arabian Plastic Industrial Co. (SASE:9548), d/b/a Apico, secured approval from Saudi Arabia's Capital Market Authority to increase its capital by issuing one bonus share for every three existing shares held by shareholders.
The plastic packaging and thermoplastic injection molding company's capital will increase to 102 million Saudi riyals from 75 million riyals through a transfer of 26.6 million riyals from retained earnings and 385,957 riyals from additional capital accounts, according to a Thursday release.
The company will hold its extraordinary general assembly within six months to fulfill all regulatory requirements.