Riyadh – Mubasher: Development Works Food Company announced that it will be increasing the capital by 20% to SAR 30 million distributed over 3 million shares.

The new capital will be raised from SAR 25 million distributed over 2.5 million shares, according to a bourse disclosure on Wednesday.

Development Works earlier said it will grant one share for every five owned shares.

The company is trading on the Saudi Exchange’s (Tadawul) parallel market, Nomu, and had withdrawn its request to move to the main market last year.