Saudi Arabian Amiantit Co.’s headquarters
Saudi Arabian Amiantit Co. announced today, March 6, the prospectus for its capital increase through offering rights issue shares worth SAR 346.5 million.
Capital will be increased to SAR 445.5 million, through offering 34.65 million rights issue shares at a nominal value of SAR 10 each.
The move is aimed to support Amiantit’s working capital.
The Capital Market Authority (CMA) approved, in December 2022, the request received from the company to increase capital through a SAR 346.5 million rights issue, as per Argaam's data.
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Capital Hike Details |
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Current Capital |
SAR 99 mln |
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Current Number of Shares |
9.9 mln |
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Percentage Increase |
350% |
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New Capital |
SAR 445.5 mln |
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Number of Shares Post Capital Hike |
44.6 mln |
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Rights Issue Details |
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Offer Shares |
34.65 mln |
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Offer Price |
SAR 10/share |
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Issue Size |
SAR 346.50 mln |
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Eligibility Ratio |
Each listed shareholder shall have the right to subscribe to nearly 3.5 rights for each owned share |
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Record Date |
Shareholders who are registered with Edaa by the close of trading on the second trading day after the extraordinary general meeting (EGM) that will decide the capital increase |
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Rights Issue Proceeds |
Purchase of spare parts for maintenance and production |
SAR 21.44 mln |
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Working capital |
SAR 311.06 mln |
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Offering costs |
SAR 14.00 mln |
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