NAF proposes 50% share increase
The board of directors of Nafeq Feed for Industry has recommended increasing the company's capital by 50% through the issuance of free shares to shareholders, by capitalizing 10 million riyals from retained earnings. The capital will be raised from 20 million riyals to 30 million riyals, with one free share issued for every two shares owned by shareholders. This step aims to strengthen the capital base, support expansion and growth plans, and improve the company's financial position, all fully financed from accumulated profits without the need for additional contributions. The free shares will be distributed after completing the necessary regulatory procedures, with the date of the extraordinary general assembly to be announced later.
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