APICO Approves 50% Capital Hike, Transfers SAR 7.3 mln to Retained Earnings

Arabian Plastic Industrial Co. (APICO) announced on Sunday that its shareholders approved a 50% capital increase during an Extraordinary General Assembly Meeting held earlier this week.

The company’s capital will rise from SAR 50 million to SAR 75 million by issuing one bonus share for every two existing shares. The move aims to support strategic growth, future expansion, and financial strength.

In addition, shareholders approved the transfer of SAR 7.3 million from the statutory reserve to retained earnings.