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Nasij shareholders approve 150% capital boost
Naseej International Trading Company announced its Board of Directors' decision to increase the company's capital by 150% through the issuance of rights issue shares valued at a total of 163.46 million Riyals. This move aims to address accumulated losses amounting to half of the capital, strengthen the financial position, and provide the necessary liquidity for future growth. The increase was approved by 84.62% of shareholder votes. Consequently, the capital has risen from 108.97 million Riyals to 272.43 million Riyals, and the number of shares has increased from approximately 10.9 million to 27.24 million shares, through the issuance of 16.35 million new shares with a nominal value of 10 Riyals per share. The main objectives of this financial boost include improving the company's financial standing and amending the company's bylaws to align with the new capital structure.
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