Saudi Arabia's stc’s board of directors announced on Saturday its recommendation to the general assembly to increase the company’s capital by 150% through granting bonus shares.
It will be capitalizing SAR 30 billion from retained earnings, bringing stc’s capital from SAR 20 billion (2 billion shares) to SAR 50 billion (5 billion shares), where 1.5 shares will be granted for every share held by shareholders at the time of maturity, reported the Saudi Press Agency.
