Riyadh – Mubasher: The board of Mohammed Hasan Al Naqool Sons Company recommended on 25 August to increase the capital by 50% or SAR 14.5 million through bonus shares from the retained earnings account and the statutory reserve.
Al Naqool aims to raise the capital to SAR 43.5 million distributed over 4.35 million shares from SAR 29 million and 2.9 million shares prior to the hike, according to a bourse filing on Wednesday.
The company will grant one share for every two owned shares to strengthen the company's capital to meet its business needs and future plans.
It is worth noting that Al Naqool is listed and trading on the Saudi Exchange’s (Tadawul) Parallel Market Nomu.
