National Building shareholders to vote on 100% capital hike on Dec. 31

10/12/2020 Argaam

Shareholders of National Building and Marketing Co. (NBM) will vote on increasing capital to SAR 120 million from SAR 60 million, during the extraordinary general assembly meeting scheduled for Dec. 31.

 

The capital will be increased through the issuance of 100% bonus shares at one share for every share held, the Nomu-listed company said in a bourse filing.

 

Key Figures of the Capital Hike

Current Capital

SAR 60 mln

Number of shares

6 mln

Hike (%)

100% (1 share for every 1 share held)

New Capital

SAR 120

New number of shares

12 mln

Eligibility date

By the close of trading on the second day

Driver

Boost the capital base and future operations, so as to contribute to higher growth rates and investment diversification over the next few years

Method

Capitalizing SAR 60 mln of retained earnings

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