The Claps SAIB (SAIB) extraordinary general assembly approved the increase of both its authorized & paid-in capital.
Claps Class Authorized capital is the maximum amount of shares a company can legally issue. Paid-in Capital is the amount of cash raised and paid by shareholders. A company doesn’t raise all its authorized capital to avoid capital excess.
The Deets The bank will raise its authorized capital from $200 million to $350 million, & increase its paid-in capital by $7.5 million to $157.5 by issuing bonus shares.
The distribution will be 1 share for every 20 shares. The increase will be funded from the bank’s retained earnings.
Claps Class Retained Earnings are the portion of profit left for the business after paying out dividends to shareholders. The company retains this portion to reinvest it in the business or to pay off debts.