National Gypsum Company

National Gypsum Company is a Saudi joint-stock company established on April 27, 1959. It extracts gypsum from licensed areas, manufactures its derivatives, and distributes them in local and international markets.

The company's headquarters is in the capital, Riyadh, with factories in the cities of Yanbu and Dammam. It is listed on the Saudi Exchange under the name NGC with the trading symbol 2090.

The company operates within the basic materials sector in the Kingdom of Saudi Arabia. It specializes in extracting gypsum and manufacturing its derivatives using mechanical and chemical methods, including construction materials. It also manages and operates gypsum factories and trades its products commercially to meet market demands within Saudi Arabia and abroad.

National Gypsum Company has privileges that facilitate its operations. It is permitted to participate in purchasing shares and stakes in entities engaged in similar activities or those that collaborate with it to meet market demands, whether in Saudi Arabia or abroad. It may also merge with, acquire, or affiliate such entities and enter into contracts for this purpose. The company's bylaws stipulate that it has the right to establish a single-member limited liability company or a closed joint-stock company, provided that the capital is no less than SAR5 million.

The company was listed on the main market of the Saudi Exchange within the basic materials sector, with a capital of SAR316.66 million, under the trading name NGC with the symbol 2090. The founders fully subscribed to the company’s capital, and the right to purchase shares was granted to Saudi citizens, Gulf Cooperation Council (GCC) nationals, and investors of other nationalities. The company’s regulations outline the trading mechanism regarding the issuance and sale of ordinary shares, partially paid shares, and preferred shares, as well as the issuance of financing sukuk and the obligations of shareholders in the event of a capital increase or reduction.

The company has increased its capital multiple times since its establishment in 1959, when it initially stood at SAR12 million. As the company expanded in both scale and capacity, it established factories in Yanbu, expanded its factories in Riyadh, and built new ones in Dammam. This growth necessitated successive capital increases to SAR36 million, then SAR72 million, followed by SAR144 million, SAR200 million, SAR237.5 million, and finally reaching SAR316.66 million in 2007.

The General Assembly of National Gypsum Company elects a Board of Directors consisting of nine members from among qualified and experienced Saudi nationals with integrity. Any shareholder may nominate themselves, provided their total shares amount to at least SAR10,000, which are non-tradable. The membership term lasts for three years, and the board may be re-elected. The Board of Directors appoints a chairman, a vice chairman, and a secretary from among its members. The chairman represents the company before courts and judicial authorities.