The Capital Market Authority (CMA) has approved a request from Saudi Ceramic Co. to raise capital from SAR 375 million to SAR 500 million through bonus share distribution at 1-for-3.

The eligibility of the bonus shares will be for shareholders of record till the close of trading on the EGM date.

The capital increase will be financed from retained earnings.

The number of shares will be raised to 50 million from 37.5 million.

Photo Credit: Arabianeye-Reuters