Riyadh - Mubasher: The Capital Market Authority (CMA) approved Munawla Cargo Company’s plan to raise its capital to SAR 30 million from SAR 20 million by issuing one bonus share for every two shares owned.
The increase, funded by transferring SAR 10 million from retained earnings, will boost total shares to 3 million from 2 million, according to a bourse filing.
Meanwhile, the CMA approved National Environmental Recycling Company’s (Tadweer) request to double its capital to SAR 232.32 million from SAR 116.16 million by issuing one bonus share for every existing share.
The increase will be backed by transferring SAR 67.83 million from the share premium, SAR 47.74 million from retained earnings, and SAR 577,850 from the statutory reserve account.
Following the hike, the company’s total number of shares will rise to 232.32 million from 116.16 million, according to another bourse filing.
On 28 August, Tadweeer secured a SAR 90 million loan from the Saudi Industrial Development Fund (SIDF).
