Riyadh – Mubasher: National Agricultural Development Co. (Nadec) announced, in a bourse filing Sunday its board of directors proposed on 16 January a capital increase through bonus share distribution.
The increase in capital to SAR 847 million, from SAR 770 million will be effected through capitalising SAR 77 million from retained earnings.
The Tadawul-listed company will used the capital-raise proceeds in financing its expansions.
Shareholders of record till the close of trading on the extraordinary general meeting’s date will be eligible for the bonus share distribution.
