Saudi electronics supplier eXtra’s shareholders to vote on raising capital to $231m

Tue, 2022-09-13 16:37

RIYADH: United Electronics Co., also known as eXtra, is seeking its shareholder’s approval to increase its capital by over 33 percent, from SR600 million to SR800 million ($231 million), through the issuance of bonus shares.

The electronics goods supplier’s capital increase plan is intended to strengthen the firm’s financial position, according to its bourse filing.

The board of directors has recommended increasing the company’s capital by raising the number of shares to 80 million from 60 million.

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