- ARAB NEWS
- 01 May 2025
Since 1975
Arab News
RIYADH: Saudi Telecom Co.’s board has proposed to increase the company’s capital by 150 percent through the issuance of bonus shares.
Also known as stc, the telecom giant’s capital plan entails increasing capital from SR20 billion ($5.33 billion) to SR50 billion, according to a bourse filing.
Shareholders are set to receive 1.5 shares for every share owned by capitalizing an amount of SR30 billion from retained earnings.
“The increase in stc’s capital will support achieving its growth and expansion strategy along with maximizing its shareholders’ return,” the company said.
The proposal is subject to shareholders’ approval in the next extraordinary general assembly meeting.
