National Building and Marketing Co announces an increase in the capital of its subsidiary, " Ajeej Steel Manufacturing Co.(a closed joint stock company)" from 180 million riyals to 300 million riyals.
| Element List | Explanation |
|---|---|
| Announcement Detail | National Building and Marketing Co announces an increase in the capital of its subsidiary " Ajeej Steel Manufacturing Co." from SAR 180 million to SAR 300 million. The number of shares before the increase was 180 million ordinary shares, and after the increase, it will be 300 million ordinary shares.
The capital increase amounting to SAR 120 million was covered from the shareholders’ current account. National Building and Marketing Co affirms that this step is a part of supporting the growth and expansion plans of its subsidiary, which will strengthen its financial position and positively reflect on the company’s consolidated financial results. |
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