Riyadh – Mubasher: The Board of Directors of the National Building and Marketing Company, listed on the Nomu-Parallel Market, proposed on Tuesday a 100% capital increase via bonus issue.

The new planned capital will be carried out through partial capitalisation of the reserve and retained earnings and will stand at SAR 120 million from SAR 60 million, with 1 bonus share granted for every ordinary share, according to a filing to the Saudi bourse on Wednesday.

Moreover, the capital raise aims to support and strengthen the company’s capital base and future projects to record good growth rates and investment diversification over the upcoming years.

Eligibility of the bonus shares will be to shareholders on the maturity date, as per the registered shareholders in the register of the Securities Depository Center Company (Edaa) at the end of the second trading day following the due date.