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Almarai gets shareholders’ nod for capital increase

The Tadawul All-Share Index jumped 2.9% to hit 7,864.56 points on Tuesday. Shares of dairy food and beverages producer gained 1.37%, finishing at SR55.50 points. Earlier in the day, Almarai said shareholders approved the proposed increase in the share capital from SR4bn to SR6bn, representing an increase of 50% by issuing 200m shares totalling SR2bn. "This will increase the number of shares from 400m shares to 600m shares through the distribution of one bonus share for every two outstanding shares for existing shareholder", said Almarai in a filing to the Saudi Stock Exchange.