National Building says major shareholder to transfer 2M shares to subsidiary

Logo of National Building and Marketing Co. (NBM)

National Building and Marketing Co. (NBM) said that Fahad Al Thunayan, who owns 64.61% of the company’s shares, will transfer two million shares to the investment portfolio of Ethraa Holding Co., a closed joint stock company.

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This will result in a change in the shares held by one of the major direct shareholders in National Building on the Tadawul website.

According to Argaam data, the two million shares represent 16.7% of the company's total shares, which amount to 12 million shares. Meanwhile, Al Thunayan's total ownership in the company stands at 7.76 million shares, representing 64.6% of the company's shares.