Riyadh – Mubasher: Batic Investments and Logistics Co’s board of directors decided to raise the company’s capital by 25% through distributing bonus shares in ratio 1:4. 

The company’s capital will grow to SAR 300 million, up from SAR 240 million, hence, shares will increase to 30 million shares from 24 million, Batic said in a filing to the Saudi Stock Market (Tadawul) on Tuesday.

The proposed increase in capital aims at achieving a balance between the company’s capital and assets, as well as bolstering its future investment plans, the company indicated.

The Tadawul-listed company will boost its capital through capitalising SAR 60 million from retained earnings, the company noted.

The eligibility will be for shareholders registered at the ordinary general meeting (OGM) date, which will be set subsequently, as well as shareholders registered the day after eligibility.

Batic’s stock closed Monday’s trading session up 1.62% to SAR 62.91.