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.
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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 |
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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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