Tihama Advertising and Public Relations Co. will launch today, July 20, the subscription to new shares and rights trading to increase its capital from SAR 75 million to SAR 175 million.

 

Rights trading will end on Monday, July 27, while the subscription to new shares will close on August 6.

 

On July 15, Tihama’s shareholders approved a capital increase through a SAR 100 million rights issue.

 

Tihama will offer 10 million shares at SAR 10 each. Shareholders of record are entitled to receive 1.33 rights for every share held.

 

Key Figures of the Capital Hike

Current capital

SAR 75 mln

Number of shares

7.5 mln shares

Hike (%)

133.33%

New capital

SAR 175 mln

New shares

17.5 mln shares

Rights Issue Details

Number of rights issue shares

10.0 mln shares

Issue price

SAR 10/share

Issue size

SAR 100 mln

Record date

(July 15, registered shareholders on the second day following this date)

Rights coefficient

 Each shareholder is entitled to 1.33 rights for every share held

Start of right issue trading and subscription period

July 20, 2020

End of rights issue trading

July 27, 2020

End of trading new shares subscription period

August 6, 2020

Use of Proceeds

To support expansions in business activities.

Additional Information

Financial advisor, Lead manager and Underwriter

Falcom
     

Rights holders are entitled to subscribe to the new shares partially or fully pro rata. The remaining shares will be reoffered to institutional investors.

  

In case of under subscription, the financial advisor, lead manager and underwriter, Falcom Financial Services will subscribe to these rights.

 

Investors, who are not willing to subscribe, should sell their rights during the trading period, the statement added.

 

For More IPOs 

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