Aramco approved the board’s decision to enhance the company’s capital from 60 billion to 75 billion riyals by capitalizing 15 billion riyals in retained earnings last Thursday.
According to Aramco, shareholders will be given one share for every 10 shares owned in the company.
The company’s capital before the increase is 60 billion riyals, and after the increase it will become 75 billion riyals, an increase of 25%.
The number of the company’s shares before the increase amounted to 200 billion shares, and after the increase it will become 220 billion shares.
The Saudi oil giant asserted that the capital increase will maximize total returns to shareholders by sharing sustainable and growing profits in line with future goals.