Al Sorayai Trading and Industrial Group announced in a bourse filling on Jan. 26 that it issued the capital hike prospectus.
On Jan. 22, Al Sorayai shareholders approved a capital hike to SAR 178.160 million from SAR 65.500 million, through rights issue worth SAR 112.660 million.
The company asserted in its prospectus that it will disclose the subscription results and the details of selling operation for the remaining shares, noting that the remaining shares will be re-offered on Feb. 9.
Al Sorayai will also announce the final allocation on Feb. 16, as the new shares will be added into shareholders accounts on Feb. 26.
According to data compiled by Argaam, new shares and the rights trading will start on Jan. 27 and end on Feb. 3, while the subscription to the new shares will close on Feb. 6.
|
Key Figures of the Capital Hike |
|
|
Current Capital |
SAR 65.5 mln |
|
Number of shares |
6.55 mln |
|
Hike % |
172% |
|
New Capital |
SAR 178.16 |
|
New number of shares |
17.82 mln |
|
Key Figures of the Rights Issue |
|
|
Number of rights issue shares |
11.27 mln |
|
Offering price |
SAR 10 |
|
Offering size |
SAR 112.66 mln |
|
Record date |
Jan.22 |
|
Eligibility |
1.72 right for every 1 share held |
|
Beginning of rights issue trading period and new shares subscription |
January 27, 2020 |
|
End of rights issue trading period |
February 3, 2020 |
|
End of new shares subscription period |
February 6, 2020 |
|
Use of rights issue proceeds |
Supporting the strategic trend and raising the solvency margin of the group by restructuring and implementing an action plan that focuses on its core activities |
|
Additional Information |
|
|
Financial Advisor and lead manager |
Aljazira Capital |
|
Underwriter |
Aljazira Capital- Wasatah Capital |
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}