The National Agricultural Development Co.’s (NADEC) board of directors has recommended a 20 percent capital hike to SAR 1.016 billion from SAR 847 million through the issue bonus shares.
The capital hike aims to match the company’s share capital to its assets level and support its future investments.
The process is pending approval from the general assembly and regulator.
Key Figures of the Capital Hike
SAR 847 mln
Number of shares
20% (1 share for every 5 shares)
SAR 1.016 bln
New number of shares
General assembly meeting
To match the company’s share capital to its assets level and support its future investments.
Through capitalizing SAR 169.4 mln from retained earnings account.
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