Riyadh – Mubasher: The Capital Market Authority (CMA) approved the requests of Naseej International Trading Company and Nofoth Food Products Company to increase their capital.
Naseej International plans to raise its capital by a rights issue valued at SAR 163.45 million, according to a bourse filing.
In September 2022, the company’s board members recommended a SAR 108.97 million capital raise to back its working capital and reduce lending rates.
Nofoth Food Products
The listed firm intends to increase its capital by granting one bonus share for every existing share.
Accordingly, the new capital will stand at SAR 48 million distributed over 48 million shares, compared to SAR 24 million and 24 million shares, prior to the raise.
Nofoth Food Products will implement the capital hike process by transferring SAR 24 million from the retained earnings account.
It is worth highlighting that the Saudi company started the trading of its shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul) last January after obtaining the CMA’s approval in October 2022.
