Riyadh – Mubasher: The extraordinary general assembly of Halwani Bros Company has approved a 10% capital increase during the meeting held on Monday, 5 August.

Accordingly, the company’s capital will be SAR 314.28 million instead of SAR 285.7 million, according to Halwani Bros’ filing to the Saudi Stock Exchange (Tadawul) on Tuesday.

The step comes along with the company’s strategy to boost its business size and keep pace with future plans.

The process will take place through capitalizing SAR 28.57 million from the retained earnings account, the statement added.