Saudi Cable issues prospectus for SAR 500 mln rights issue

Capital Hike Details

Current capital

SAR 262.31 mln

Number of shares

26.23 mln

Capital hike%

190.61%

Capital after increase

SAR 762.31 mln

Number of shares after increase

76.23 mln

Rights Issue Details

Number of offered shares

50 mln

Offering price per share

SAR 10

Size of issue

SAR 120 mln

Eligibility coefficient

Nearly 1.91 rights for every share held

Record date

Shareholders of record by the close of trading on the extraordinary general meeting (EGM) date and shareholders registered with the company at the end of the record date; the second date following the EGM date that will decide on the capital increase  

Rights issue proceeds

Working capital

SAR 395.74 mln

Outstanding liabilities

SAR 75.23 mln

Offering costs

SAR 8.73 mln

Spare parts for equipment and machinery to match the target production

SAR 7.51 mln

Spare parts for maintenance and production

SAR 5.64 mln

System upgrade for electrical loads

SAR 2.35 mln

General requirements and equipment purchase for transportation

SAR 2.61 mln

Optimization of the control system and energy consumption

SAR 2.18 mln