RIYADH: Saudi Capital Market Authority, or CMA, approved request of Saudi Aramco to increase its capital through bonus shares issuance.

In a statement, the CMA said it Approved Aramco’s capital increase to SR75 billion ($20 billion) from SR60 billion through issuing one bonus share for every 10 existing shares.

The increase will be paid by transferring SR15 billion from the company’s retained earnings account to its capital.

Consequently, its outstanding shares will go up by 20 billion to reach 220 billion shares.