Roots Group Arabia increases capitalization to SR 600 million

Roots Group's General Assembly unanimously approved increasing its capital from SR 500 million to SR 600 million by issuing one bonus share for every 5 existing shares owned by the shareholders who are registered in the group's registry at the closing of trading on the day of the extraordinary general assembly meeting.
Samir Al-Shubaily, deputy CEO, Roots Group Arabia, said: “The increase in capital will be covered by the company’s retained earnings. This increase is strategic and a part of the group’s commitment to the long-term development. The group is looking for a comprehensive and sustainable development enabling it to upgrade the standards and establish a highly evident presence in the Middle East-Gulf region to better deliver quality services in the coming years. We are witnessing rapid growth and expansion toward new markets in the region and are functioning at a steady pace. This is to fulfill the group's vision to be the pioneer in meeting the increasing demand of building materials and equipment required in the construction of medium and mega projects in Saudi Arabia and elsewhere in the GCC.”
Roots Group Arabia is known as a reputable vendor of construction materials and equipment in the Middle East. It has a series of local, regional, and international branches in Saudi Arabia, Egypt, the UAE, Qatar, Syria, Lebanon, Malaysia, China, and the UK. Recently, new branches were opened in Jordan and Nigeria.