Anaam International Holding Group's subscription to new shares and rights trading begins today, Nov. 2, to increase capital from SAR 15 million to SAR 105 million.

 

Rights trading will end on Monday, Nov. 9, while the subscription to new shares will close on Thursday, Nov. 12.

 

Rights holders are entitled to subscribe to the new shares partially or fully on a pro rata basis. Unsubscribed shares, and share fractions, will be offered to institutional investors.

 

In case of under subscription, lead manager and underwriter Wasatah Capital will subscribe to these rights.

 

The Securities Depository Center Co. (Edaa) deposited, on Nov. 1, Anaam’s tradable rights into the accounts of eligible securities’ holders, Argaam reported.

 

The company’s shareholders approved, on Oct. 27, the board of directors’ recommendation to increase capital from SAR 15 million to SAR 105 million through a SAR 90 million rights issue.

 

Key Figures of the Capital Hike

Current capital

SAR 15 mln

Number of shares

1.5 mln shares

Hike (%)

600%

New capital

SAR 105 mln

New shares

10.5 mln shares

Rights Issue Details

Number of rights issue shares

9 mln shares

Issue price

SAR 10/share

Issue size

SAR 90 mln

Record date

Oct. 27, 2020 (Registered shareholders on
the second day following the EGM date on Oct. 29, 2020)

Rights coefficient

Each shareholder is entitled

to six rights for every share held

Start of right issue trading and subscription period

Nov. 2, 2020

End of rights issue trading

Nov. 9, 2020

End of subscription period

Nov. 12, 2020

Use of Proceeds

To finance future plans and expansions

 

For More IPOs

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