Riyadh – Mubasher: The National Building and Marketing Company’s extraordinary general meeting (EGM) approved the board’s recommendation to raise the company's capital by 100% to SAR 120 million from SAR 60 million.
The move aims to support and strengthen the company’s capital base and future activities, contributing to achieving better growth rates and diversification in investments during the coming years, according to a bourse statement on Sunday.
The capital hike process will be implemented by granting free shares to shareholders from other reserves and retained earnings equivalent to one share for every issued share at 100% of the capital.
