Jordan Petroleum Refinery Company (Jopetrol) has announced that the Jordan Securities Commission (JSC) approved a-12.5-million share increase in the Company’s capital.

The Company’s statement on Amman’s Bourse showed that such increase would be by capitalizing JOD 12.5 million of retained earnings, and distributing the increase as 25% bonus shares of the paid-up capital to the Jopetrol’s shareholders.

JOPT’s current capital, before the increase, is JOD 62.5 million divided on 62.5 million shares, as par value JOD 1 per share.

The JSC has demanded that the Company issue and distribute the bonus shares on the registered Company’s shareholders by the end of October 28, 2014, and to pay the registration fees of JOD 37.5 THD.