Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) approved Nama Chemicals Company’s request to raise capital by SAR 20 million via right issue shares.
The capital hike will be will be limited for shareholders who are registered in the shareholders’ registry at the Security Depository Center as of the closing of the second trading day after the extraordinary general meeting (OGM), according to a statement to the Saudi Stock Exchange (Tadawul) on Tuesday.
The OGM’s date will be specified by Nama Chemicals’ board of directors later.
“The CMA’s approval of the prospectus should never be considered as a recommendation to participate in the offer nor invest in the Company's shares,” the statement added.
The firm last reported turning to profit during the third quarter of 2018, logging SAR 749,000, against suffering SAR 2.023 million losses in the year-ago period.
During the first nine months of 2018, the Tadawul-listed firm generated a profit of SAR 52.36 million, against SAR 8.63 million in losses from January to September 2017.
