Riyadh — Mubasher: The extraordinary general assembly meeting (EGM) of Naseej International Trading Company approved a capital increase of SAR 163.46 million through a rights issue, according to a bourse filing.
The capital will rise from SAR 108.97 million to SAR 272.43 million, while represents an increase of approximately 150%.
Naseej International stated that the move is designed to settle financial obligations and support its future growth strategy.
The expansion involves increasing the number of shares from 10.89 million to 27.24 million ordinary shares.
Eligible shareholders will be granted 1.49 rights for every one share held. Meanwhile, the offering price and nominal value per share are set at SAR 10.
The assembly, which saw a 24.00947% attendance rate, also approved the board’s plan to address accumulated losses that had reached half of the company's capital.
Eligibility for the rights issue is for shareholders of record on 26 August 2026, who are registered with the Securities Depository Center at the end of the second trading day following the assembly meeting.
Naseej International noted that the resolution passed with 84.62741% of the votes in favor.
