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FINANCIAL NEWS
Saudi- Mobily’s shareholders approve capital increase
10 Feb 2013
(MENAFN) Saudi Etihad Etisalat (Mobily) stated that it will increase its capital by 10 percent to USD2.05 billion, reported Arabian Business.
The Kingdom’s No.2 telecoms firm said that the decision came after gaining the approval of Mobily’s shareholders.
According to a bourse statement, the company will raise capital via the issuance of bonus shares to existing shareholders who were registered with Mobily at the end of trading on January 20.
It is worth noting that the company, which plans to boost revenue from data and corporate customers, posted net earnings of USD501 million last quarter.
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