Riyadh – Mubasher: The Saudi Capital Markets Authority (CMA) approved Herfy Food Services Co's capital increase request.

The capital will be raised from SAR 462 million to SAR 646 million, through bonus shares of 2:5, according to a bourse filing on Thursday.

The increase value will be financed through transferring SAR 64.88 million from retained profits.

The number of shares will increase to 64.88 million from 46.2 million shares.

Registered shareholders by the end of trades on the date of the extraordinary general meeting (EGM), which will be announced later, will be eligible for the bonus shares, on condition not to exceed six months from the approval's date.

The company’s stock added 0.7% to SAR 79.5 on Wednesday.