Riyadh – Mubasher: The board of the National Shipping Company of Saudi Arabia (Bahri) has recommended a 25% capital raise to SAR 4.92 billion from SAR 3.94 billion through bonus shares.

To increase capital, the company will grant one bonus share for every four shares owned, according to a bourse filing on Monday.

The increase will be through the capitalisation of SAR 984.38 million from the statutory reserve.

This proposal aims to strengthen the capital base to be matched with the size of the company's assets and future projects.