The general assembly of the National Agricultural Development Company (Nadec) approved the increase of the capital by 20%. According to Arabia Net, the company said that the increase will be made by capitalizing SAR 169.4 million from the retained earnings account, so that the capital will rise from 847 million riyals to 1.016 billion riyals.
She added that she would distribute 16.94 million bonus shares as bonus shares to shareholders, at the rate of 1 share for every 5 shares held.
The company indicated that the goal of increasing the capital is to match the size of its assets and support its future investments.
