Riyadh – Mubasher: The Capital Market Authority (CMA) approved Saudi Industrial Services Co's (SISCO) request to increase its capital from SAR 680 million to SAR 816 million.

The capital hike will be through bonus shares of 1:5 shares owned by registered shareholders at the end of trades on the extraordinary general meeting's (EGM).

The number of shares will go up from 68 million shares to 81.6 million shares, through capitalising SAR 136 million from retained earnings, according to a bourse filing on Tuesday.

Earlier, SISCO’s board recommended a 20% increase in capital through bonus shares.