Mobily plans bonus share issue

20 Nov 2012

The Saudi Arabian cellular operator Mobily has announced a 10% bonus share issue which will give shareholders one new bonus share for every ten shares they currently hold. The transaction will increase the company’s capital from SAR7.0 billion (USD1.9 billion) to SAR7.7 billion, Reuters reports, with the capital increase to be financed through its retained earnings. Mobily reported revenues of SAR6.18 billion in the three months to end-September 2012, up from SAR4.64 billion a year earlier, while net income rose from SAR1.22 billion to SAR1.51 billion.

Saudi Arabia, Mobily (Etihad Etisalat)