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MIS’ shareholders nod to 25% capital hike

MIS’ shareholders nod to 25% capital hike
MIS aims to raise the capital to SAR 250 million
MIS
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Riyadh – Mubasher: The equityholders of Al Moammar Information Systems Company (MIS) approved a 25% capital increase by capitalising SAR 50 million from the reserves and retained earnings.

MIS aims to raise the capital to SAR 250 million from SAR 200 million to enhance the company’s resources, which would contribute to achieving good growth rates over the coming years, according to a disclosure to Tadawul on Monday.

The company will grant its eligible shareholders one share per every four original shares to implement this hike.

Last January, the board members recommended the 25% capital raise.

MIS has recently finalised an agreement worth SAR 58.48 million with the Saudi Ministry of Health.