‎Electrical Industries board proposes 25% capital increase via bonus shares

‎Electrical Industries board proposes 25% capital increase via bonus shares

The board of directors of Electrical Industries Co. (EIC) recommended increasing the company’s capital by 25% through a 1-for-4 bonus-share distribution.

In a statement to Tadawul, EIC said fractional shares, if any, will be collected into one portfolio. The shares will be sold at market price within 30 days, on a pro-rata basis, from the date of determining the allocation of new shares for each shareholder, it noted.

The bonus share distribution and the capital hike are subject to the approval of the competent authorities as well as the company's extraordinary general meeting (EGM).