National Building says major shareholder to transfer 2M shares to subsidiary

National Building and Marketing Co. (NBM) said that Fahad Al Thunayan, who owns 64.61% of the company’s shares, will transfer two million shares to the investment portfolio of Ethraa Holding Co., a closed joint stock company.

The restructure will involve transferring 2 million shares owned by the shareholder to the investment portfolio of one of his companies (Ithra Holding Co., a closed joint-stock company)., the statement said.

This will result in a change in the shares held by one of the major direct shareholders in National Building on the Tadawul website.

According to Argaam data, the 2 million shares represent 16.7% of the company's total shares, which amount to 12 million shares. Meanwhile, Fahd Al Thunayan's total ownership in the company stands at 7.76 million shares, representing 64.6% of the company's shares.