Almarai plans bonus issue to boost capital by 50%

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Saudi dairy firm Almarai wants to raise its capital by 50 percent to 6 billion Saudi riyals ($1.6 billion) through the distribution of a bonus share for every two shares already held, it said in a bourse statement on Wednesday.

The plan, which it said aims to strengthen the company's financing ability, must be approved by the markets regulator and shareholders.

Almarai's board also approved a capital spending programme of 15.7 billion riyals over the next five years which was announced last year.

The company reported a first quarter net profit of 255 million riyals, up 5.4 percent over the prior-year period, due to increased revenues, particularly in poultry sales.


Market Performance

Almarai Company - Saudi Arabia
0.48 0.56 (%)
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Growth spurt for Gulf's e-commerce sector

Growth spurt for Gulf's e-commerce sector

The recent sale of to Germany’s Rocket Internet for...

How the UAE is sewing together a top industry

How the UAE is sewing together a top industry

In the shadows of oil and aviation, the UAE’s textiles industry...

Mall talk

Mall talk

Plans for Dubai’s Mall of the World have made headlines all over...

Most Discussed