Lana to finance capital increase from retained earnings, statutory reserve

Logo of Lana Medical Co.

Lana Medical Co. said the board of directors, on Oct. 27, amended the capital increase recommendation.

In a statement to Tadawul, Lana said the capital hike will be financed from SAR 17.47 million of retained earnings and SAR 526,290 of statutory reserve.

In July, Lana’s board of directors recommended a 50% capital increase from SAR 36 million to SAR 54 million by issuing a bonus share for every two existing shares owned, according to Argaam data.