NADECs’ board approves 16.7% capital increase

13/02/2014 NADECs’ board approves 16.7% capital increase

The board of directors of the National Agricultural Development Company (NADEC) recommended today increasing company’s capital by 16.7%, from SAR 600 million to SAR 700 million.

The increase will be through issue of one bonus share for each six shares owned by registered shareholders, and will be financed by capitalization of SAR 100 million in retained earnings, the company said.

The increase will raise the company’s listed shares to 70 million.

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