Riyadh – Mubasher: The extraordinary general meeting (EGM) of Al Jouf Cement on Monday approved raising its capital through distributing bonus shares.

Al Jouf Cement will distribute a share per each 10 shares to raise its capital by 10% to SAR 1.3 billion from SAR 1.43 billion, transferring SAR 130 million of the retained earnings, according to a bourse statement issued on Tuesday.

This capital hike will boost the financial position of Al Jouf to carry out further investments in the future.

Al Jouf Cement said that the fluctuation price rate is SAR 7.37 per share on Tuesday, 18 July.