Logo of Tihama Advertising and Public Relations Co.
Tihama Advertising and Public Relations Co.’s subscription to new shares and rights trading begins today, April 6, to increase capital to SAR 400 million from SAR 50 million.
Rights trading will end on April 13, while subscription to the new shares will close on April 25.
The company intends to offer 35 million shares, at SAR 10 each, in order to increase capital by 700%. Accordingly, each registered shareholder will be granted seven rights for every share held on the record date.
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Capital Increase Details |
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Current capital |
SAR 50 mln |
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Number of shares |
5 mln |
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Capital increase (%) |
700% |
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Capital after increase |
SAR 400 mln |
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Number of shares after increase |
40 mln |
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Rights Issue Details |
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Number of shares offered |
35 mln |
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Offer price |
SAR 10 |
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Size of issue |
SAR 350 mln |
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New shares subscription period |
April 6-25, 2023 |
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Rights trading period |
April 6-13, 2023 |
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Reason |
Financing expansion plans and future investments, supporting working capital and fulfilling financial dues |
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Record date |
April 2, 2023 (Shareholders of record on the EGM date and those registered with Edaa by the close of the second trading day after the EGM) |
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Eligibility ratio |
Each shareholder of record will be granted seven rights for every share owned |
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Rights issue proceeds |
Investments, acquisitions and partnerships |
SAR 154 mln |
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Expansion and restructuring of retail business |
SAR 33.58 mln |
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Liabilities due to government agencies |
SAR 31.81 mln |
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Payment of dues under final court rulings |
SAR 28.45 mln |
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Liabilities to financing agencies |
SAR 20.91 mln |
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Expand and enhance the advertising network |
SAR 17.45 mln |
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Expansion in the educational business |
SAR 15.96 mln |
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Working capital support |
SAR 12.85 mln |
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Expansion in the production business |
SAR 7.99 mln |
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Offering fees |
SAR 26.99 mln |
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Rights-issue holders are allowed to exercise their right to subscribe to new shares (in full or in part) up to the number of shares available in their portfolios. Rights issue trading and subscription to new shares for registered shareholders and new investors will be as per the prospectus.
In the event that shares remain unsubscribed, remaining and fractional shares, if any, will be offered to institutional investors, according to the prospectus.
Investors not willing to subscribe must sell the rights issue during the specified trading period to avoid the resulting decline in the value of their investment portfolios as a result of not benefiting from their rights, whether by way of sale or subscription, the company said.
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