National Building & Marketing Co.
National Building & Marketing Co.’s (NBM) shareholders approved, on Dec. 31, 2020, the board’s recommendation on increasing capital from SAR 60 million to SAR 120 million through the issuance of 100% bonus shares (1-for-1), according to a bourse filing.
NBM’s daily trading fluctuation limit will be based on a share price of SAR 457.40 as of today, Jan. 3, 2021. The outstanding orders will be canceled and the Securities Depository Center (Edaa) will deposit the bonus shares to the investor’s portfolios before Tuesday, Jan. 5, 2021.
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Key Figures of the Capital Hike |
|
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Current Capital |
SAR 60 mln |
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Number of shares |
6 mln |
|
Hike (%) |
100% (1 share for every 1 share held) |
|
New Capital |
SAR 120 |
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New number of shares |
12 mln |
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Eligibility date |
By the close of trading on the second day |
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Driver |
Boost the capital base and future operations, so as to contribute to higher growth rates and investment diversification over the next few years |
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Method |
Capitalizing SAR 60 mln of retained earnings |
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