Riyadh – Mubasher: The Capital Market Authority (CMA) passed Al Jouf Mineral Water Bottling Company’s (Hilwa) request to increase its capital to SAR 46.87 million from SAR 31.25 million through bonus shares.

The company will raise its capital by offering one bonus share for every two owned shares, according to bourse disclosures on Sunday.

Last June, the board greenlighted the 50% capital hike to expand its resources and foster its growth rates in the coming years.

Consequently, the number of shares will stand at 4.68 million shares, instead of 3.12 million shares.