Saudi’s Almarai plans to raise capital by 73.9 percent
Saudi Arabia's Almarai Co, the Gulf's biggest dairy firm by market value, plans to increase its capital by 73.9 percent to 4 billion riyals ($1 billion) from 2.3 billion, it said on Wednesday.
December 7, 2011 12:32 by Reuters
The firm also said it plans to issue a dividend of 2.25 riyals per share for 2011.
Decisions on the dividend and bonus share approvals will be made after an extraordinary general assembly meeting and after approval from the regulatory authorities, the statement said.
In June, Almarai, which got shareholder approval last month for an Islamic bond sale, said it plans to invest 4 billion riyals in the poultry sector. (Reporting by Asma Alsharif)