Saudi Arabian telco Etihad Etisalat, which operates under the brand Mobily, plans to increase its capital by 10% through a bonus share issue.
In an announcement made to the stock exchange on Saturday, the company said that shareholders at an EGM had…
Saudi Arabian telco Etihad Etisalat, which operates under the brand Mobily, plans to increase its capital by 10% through a bonus share issue.
In an announcement made to the stock exchange on Saturday, the company said that shareholders at an EGM had approved the board’s recommendation to increase the company’s capital from SAR7bn (US$1.87bn) to SAR7.7bn (US$2.1bn) by issuing shares to registered shareholders.
“The aim of a bonus share issue is to enhance shareholder returns,” said the statement.
Mobily posted net income of SAR1.5bn (US$400m) in Q3/2012, compared to SAR1.2bn (US$320m) in the same quarter the previous year.
