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Mobily increases capital to 2.05bn
- Saudi Arabia: Sunday, February 10 - 2013 at 05:08
Saudi Arabia's second-largest telecoms operator Etihad Etisalat (Mobily) has said its shareholders have approved its decision to raise the firm's capital by 10% to SR7.7bn ($2.05bn), Reuters has reported. The capital increase will be made through the issuance of bonus shares to existing shareholders who were registered with the company at the end of trading on January 20, it said. The company enjoyed surging profit growth last quarter, outperforming analyst forecasts with net earnings of $501m.
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