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Abico shareholders approve 36% capital boost
The Extraordinary General Assembly of Arabian Plastic Industries (APICO) approved a 36% increase in the company's capital through the distribution of free shares to shareholders, aimed at supporting expansion, strengthening the financial position, and motivating employees. The capital will be raised from 75 million riyals to 102 million riyals by capitalizing 27 million riyals, with one free share granted for every three shares owned, increasing the total number of shares from 7.5 million to 10.2 million. Additionally, 200,000 shares were allocated as treasury shares to support long-term incentive programs. The company’s systems and policies were also amended, with a participation rate of 73.39%.
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