Zain Saudi rights issue closes today

Capital Hike Details

Current Capital

SAR 4.48 bln

Number of shares

448.7 mln shares

Increase percentage

100.28%

New Capital

SAR 8.98 bln

Number of shares after increase

898.7 mln shares

Rights Issue Details

Number of rights shares

450 million shares

Offering price per share

SAR 10

Size of issue

SAR 4.50 bln

Record date

Oct. 14, 2020 (Shareholders of record at the Securities Depository Center Co. (Edaa) on Oct. 18, 2020)

Eligibility

1.003 rights for every 1 share held

Date of rights trading and subscription

Oct. 19, 2020

End date of rights trading

Oct. 26, 2020

End date of subscription

Oct. 29, 2020

Reason

- Partial repayment of SAR 1.67 bln worth of dues owed to Kuwait’s Zain Group

- Partial repayment of Murabaha facilities at SAR 2.77 bln

- Subscription fees at SAR 65 mln

Additional Details

Financial advisor and underwriter

Saudi Fransi Capital, ANB Invest, Al Rajhi Capital

Lead manager

Saudi Fransi Capital

Underwriters

Saudi Fransi Capital, ANB Invest, Al Rajhi Capital, Aljazira Capital, Riyad Capital, Alinma Investment