ArabianBusiness.com - Middle East Business News
Sunday, 08 November 2009 11:56 UAE time

YOUR DIRECTORY /

| Share |

Saudi Qassim Cement mulls 100% bonus share issue

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Saturday, 04 July 2009

Saudi-based Qassim Cement Co said on Saturday it planned to offer shareholders one bonus share for each existing one to raise its paid-up capital and fund expansion.

The board proposed using the bonus issue to raise the firm's capital to 900 million riyals ($240m) from 450 million riyals, Qassim Cement said in a statement after a board meeting.

The capital hike, which will be funded from reserves and retained profit, will help "ongoing and future expansion in the company's projects", it said.

Story continues below ↓
advertisement

Shareholders will vote for the bonus issue proposal at an extraordinary assembly of which the date will be fixed later. (Reuters)

| Share |


READERS' COMMENTS

Disclaimer: The views expressed here by our readers are not necessarily shared by ArabianBusiness.com or its employees.

Click here to post a comment


Add your Comment
All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Name *
Remember me on this computer
Email *
(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments


Please click post only once - your comment will not be published immediately.


MORE FROM ARABIANBUSINESS.COM

TOP IN MIDDLE EAST CONSTRUCTION & INDUSTRY

  1. Abu Dhabi eyes $15bn infrastructure spend by 2012
  2. Burj Dubai to open on Jan 4 - Alabbar
  3. UAE says rights of migrant workers 'not negotiable'
  4. Dubai labour camp aims to set new standards
  5. Race to Dubai sister golf courses put on hold

TOP MIDDLE EAST BUSINESS STORIES

  1. Saudi Arabia expects 2.5m hajj pilgrims this year
  2. UAE, Saudi launch swine flu vaccination campaigns
  3. Pressure seen easing on struggling Saudi power grid
  4. Dubai hoteliers 'need to get real on room rates'
  5. Emerging markets 'havens for stolen assets' - World Bank

ALSO IN MIDDLE EAST CONSTRUCTION & INDUSTRY

  1. Japanese builders owed billions for Dubai work - official
  2. Saudi to phase out water intensive crops - minister
  3. Qatar fertiliser firm ups output, eyes South America
  4. ‘Wacky banking + wacky buildings’
  5. Heaven scent

LATEST MIDDLE EAST BUSINESS NEWS

  1. Financial Markets: Property stocks help UAE markets advance
  2. Culture & Society: Saudi Arabia expects 2.5m hajj pilgrims this year
  3. Healthcare: UAE, Saudi launch swine flu vaccination campaigns
  4. Construction & Industry: Japanese builders owed billions for Dubai work - official
  5. Transportation: RTA unveil new plans for driver safety in Dubai

SHARE PRICE CHECK

 EMAIL ALERTS

  1. Qassim Cement Co

  2. Construction & Industry


Tell us your story

CURRENT ISSUE


 

READER COMMENTS

  1. The tipping scandal 14
    08 Nov ' 09 at 11:12
    What a shame!!I always tip the people in the gas stations and in the restaurant thinking they will benefit from that!!It's so sad!   More  »
  2. Abu Dhabi to ban all plastic bags in shops by mid-2010 07
    08 Nov ' 09 at 10:31
    I cant believe Chris was the first person to point out that paper bags also have an environmental cost in the form of chopped trees...   More  »
  3. UAE to be among top tourist hubs in 5 years - survey 06
    08 Nov ' 09 at 09:05
    It just boils down to one thing- There are countries who try to market their toursim potential. And there are countires who do not...   More  »

Read all user comments >

Gitex 2009

MORE FROM ARABIANBUSINESS.COM

JOBS

SPECIAL REPORTS

SURVEYS & REPORTS

PROPERTY