Al Kathiri Holding Co. announced on Monday the publication of its rights issue prospectus.

 

The company plans to issue 4.52 million rights issue shares at SAR 10 per share to raise its capital to SAR 90.4 million from SAR 45.2 million.

 

In November 2019, Al Kathiri’s board of directors recommended a capital hike through a SAR 45.2 million rights issue, according to data available on Argaam.

 

Key Figures of the Capital Hike

Current capital

SAR 45.2 mln

Number of shares

4.52 mln shares

Hike (%)

100%

New capital

SAR 90.4 mln

New shares

9.04 mln shares

Rights Issue Details

Number of rights issue shares

4.52 mln shares

Issue price

SAR 10/share

Issue size

SAR 45.2 mln

Record date

At the end of the second trading day following the extraordinary general assembly meeting

Use of proceeds

To support company’s expansions activities and provide working capital to increase operating capacity and support future activities.

Additional Information

Financial advisor, lead manager and underwriter

FALCOM

 

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