Saudi Nama Chemicals’ board cancels capital hike recommendation

The proposal was cancelled as the plan proved to be infeasible

  
A broker monitors stock prices on a screen at the Saudi Investment Bank in Riyadh September 5, 2013.

A broker monitors stock prices on a screen at the Saudi Investment Bank in Riyadh September 5, 2013.

REUTERS/Faisal Al Nasser

Riyadh –  The board of directors of Nama Chemicals Company has cancelled a previous recommendation to raise the company’s capital by SAR 200 million.

The Saudi-based firm noted that the proposal was cancelled as the plan proved to be infeasible, according to the company’s statement to the Saudi Stock Exchange (Tadawul) on Monday.

Source: Mubasher

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