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Raoom Trading's shareholders approve 25% capital hike

Raoom Trading's shareholders approve 25% capital hike
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Riyadh – Mubasher: The shareholders of Raoom Trading Company have agreed to increase its capital by 25% through bonus shares.

The Saudi listed firm will capitalise SAR 12.50 million from the retained earnings account by issuing one bonus share for every four owned shares, according to a bourse disclosure on Monday.

The new capital will stand at SAR 62.50 million distributed over 6.25 million shares, compared to SAR 50 million and 5 million shares prior to the raise.

The shareholders granted their approval to the capital hike during the extraordinary general meeting (EGM) that was held on Sunday, 7 August.

Last June, the Capital Market Authority (CMA) approved Raoom Trading’s capital increase.