Saudi Arabia's Nama Chemicals seek approval to raise capital

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Mubasher: Nama Chemicals announced on Thursday that it has filed for a capital hike through the issuance of bonus shares.

The company requested the approval of the Capital Markets Authority (CMA), according to a statement to the Saudi Stock Exchange (Tadawul) on Thursday.

Nama’s board of directors decided in July to reconsider the extraordinary general meeting’s (EGM) recommendation to increase the company’s capital.

The board then decided not to raise SAR 200 million through a rights issuance, but rather SAR 400 million through the distribution of bonus shares.

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