Batic Investments and Logistics Co. will launch on Dec. 13 the rights issue trading period and subscription to new shares to raise its capital by 600% to SAR 175 million.
The rights trading will end on Dec. 20, while the subscription process will close on Dec. 23.
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Capital Increase Highlights |
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Current capital |
SAR 300 mln |
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Number of shares |
30 mln shares |
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Capital increase % |
100% |
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Capital after increase |
SAR 600 mln |
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Number of shares after increase |
60 mln shares |
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Rights Issue Highlights |
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Number of rights shares |
30 mln shares |
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Offering price per share |
SAR 10 |
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Issuance size |
SAR 300 mln |
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Eligibility ratio |
Each registered shareholder shall have one right for every share held |
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Record date |
Dec. 6 (Shareholders of record by the close of trading on the second day following the EGM date) |
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Use of rights issue proceeds |
Partial repayment of the bridge loan to Bank AlJazira to acquire 35.8% of Smart Cities Solutions Co. |
SAR 107.87 mln |
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Cost to acquire Smart Cities Solutions Co. |
SAR 1.31 mln |
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Financing Smart Cities Solutions Co. to pay its dues to AMNCO |
SAR 20.00 mln |
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Financing Smart Cities Solutions Co. to pay the remaining rent due to Eastern Region Municipality, related to smart parking project |
SAR 24.44 mln |
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Repayment of short-term loans |
SAR 40.00 mln |
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Financing smart parking projects |
SAR 46.20 mln |
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Supporting working capital of AlShifa Medical Technology Co. |
SAR 5.00 mln |
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Acquiring income-generating assets and businesses |
SAR 50.00 mln |
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Issue costs |
SAR 5.18 mln |
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