21
Oct
12:59
Saudi East Pipes shareholders approve capital hike
Dammam-based East Pipes Integrated Company (EPIC)'s shareholders have voted in favour of the board’s recommendation to increase capital by 50% from SAR 210 million to SAR 315m ($84m) during the extraordinary general meeting held on 19 October, Kallanish notes.
This will be done by capitalising SAR 105m of the retained earnings by one-for-two bonus issuance.
"The Company aims to maximise shareholders' wealth that balances between growth inv…
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