The Capital Market Authority approved the request of the National Company for Construction and Marketing to increase its capital from 60 million riyals to 120 million riyals.
The Saudi Capital Market Authority said in a statement yesterday, Monday, that the increase will be given by granting a free share for every existing share owned by shareholders who are registered in the issuer's shareholders register at the Depository Center in The end of the second trading day following the maturity date, which the company’s board of directors will determine at a later time.
The Authority clarified that the value of the capital increase is paid by transferring 3 million riyals from the other reserves item, and 57 million riyals from the retained earnings item.
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She added that the number of the company's shares rose from 6 million shares to 12 million shares, with an addition of 6 million shares.
and noted that the date of the extraordinary general assembly should not exceed 6 months from the date of this approval, provided that the company completes the relevant legal procedures and requirements.
The board of directors of (Al-Watania), listed on the Saudi parallel market, had recommended in mid-July to increase the company's capital by granting bonus shares.
(Amazon Fun Knowledge)
