Logo ofNational Building and Marketing Co.
National Building and Marketing Co.said its board decided on Nov. 10 to cancel its previous recommendation to raise capital by 150% through a bonus share distribution, which would have capitalized SAR 180 million from retained earnings. 
In a statement to Tadawul, the company said the cancellation reflects the absence of the initial rationale for the increase, adding that the funds allocated for the capital hike will instead be invested to support ongoing operations.
The company confirmed it will notify the Capital Market Authority (CMA) in line with regulations and said the decision carries no associated costs.
According to data available on Argaam, the company’s board had recommended in April a 150% capital increase through a 1.5-for-1 bonus share distribution.
In August, the company received a reply from the CMA for additional information regarding the proposed capital increase.
Logo ofNational Building and Marketing Co.
National Building and Marketing Co.said its board decided on Nov. 10 to cancel its previous recommendation to raise capital by 150% through a bonus share distribution, which would have capitalized SAR 180 million from retained earnings.
In a statement to Tadawul, the company said the cancellation reflects the absence of the initial rationale for the increase, adding that the funds allocated for the capital hike will instead be invested to support ongoing operations.
The company confirmed it will notify the Capital Market Authority (CMA) in line with regulations and said the decision carries no associated costs.
According to data available on Argaam, the company’s board had recommended in April a 150% capital increase through a 1.5-for-1 bonus share distribution.
In August, the company received a reply from the CMA for additional information regarding the proposed capital increase.
