Riyadh – The board of United International Transportation Company (Budget Saudi) recommended a 33.74% capital hike, according to a bourse disclosure.
The group will distribute 26.05 million shares as bonus shares to shareholders by granting one bonus share for each three owned shares, representing a 33.33% increase in the company’s capital.
Moreover, the company will allocate an additional 320,000 shares, equivalent to 0.41% of the company’s capital raise, for the long-term employee incentive shares program.
Accordingly, the new capital will stand at SAR 1.04 billion distributed over 104.54 million shares, compared to SAR 781.66 million and 78.16 million shares.
The board member proposed the transaction on 4 June 2025 to support the company’s growth and reinforce its financial position.
Budget Saudi will capitalize SAR 263.75 million from the retained earnings account.
In the first quarter (Q1) of 2025, the company’s net profits jumped by 18.13% to SAR 82.76 million from SAR 70.05 million in Q1-24.
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