Obeikan Glass Co Board recommends capital increase to SR320 mln by granting bouns shares

Obeikan Glass Company announced on Sunday the Board of Directors’ decision on 07-01-2023 to submit a recommendation to the company’s extraordinary general assembly to increase the capital by capitalizing part of retained earnings by granting one share for each three shares

The company explained that the capital before the increase was SR 240,000,000 and after the increase would be SR 320,000,000.

It also explained that the percentage of the capital increase is 33.33%, and the number of shares before the capital increase was 24000000.

The number of shares after the capital increase reached 32000000.