Riyadh — Mubasher: The Capital Market Authority (CMA) has granted approval for Arabian Plastic Industrial Company (APICO) to increase its capital from SAR 75 million to SAR 102 million, according to an official statement.

The capital hike will be executed through the issuance of one bonus share for every three existing shares held by shareholders.

The transaction will increase the total number of the company's shares from 7.50 million to 10.20 million shares, representing an addition of 2.70 million free shares.

To fund the SAR 27 million increase transaction, APICO will transfer SAR 26.61 million from its retained earnings and SAR 385,957 from its additional capital account.

Eligibility for the bonus shares is restricted to shareholders registered in the company’s register at the Securities Depository Center by the end of the second trading day following the maturity date.

The specific maturity date is to be determined by the company's board of directors at a later time.

According to the CMA, the company must hold its extraordinary general meeting to finalize the increase within six months of this approval date while completing all related regulatory requirements.

It is worth noting that during APICO’s latest Ordinary General Assembly meeting (OGM), shareholders approved a cash dividend distribution worth SAR 11.25 million for 2025.