Almarai looks to double capital

07 October 2010

Company wants to double capital $613m

Saudi dairy company, Almarai has said its board of directors has advised doubling the company’s capital from SR1.15bn ($306m) to SR2.3bn to finance future projects, Arab News has reported. The capital will be increased through the distribution of bonus shares, offering one share for each outstanding stock, which will raise the company’s stock from 115 million to 230 million. Almarai made SR424.5m ($113m) in the third quarter compared with SR363.4m a year earlier, the company said.

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.