Yamama Saudi Cement proposes bonus share issue
Yamama Saudi Cement Co said its board will seek the authority’s approval to boost the company’s capital by 50 per cent to almost SAR2.0bn (US$540m) from the current SAR1.3bn.
The company said the board has proposed that the capital hike be carried out via a one-for-two bonus share share issue through the capitalisation of part of its reserves.
Yamama said in a statement posted on the Saudi bourse website that the proposed SAR675m capital increase aims to finance future expansions. Published under Cement News
