Logo of Wafrah for Industry and Development Co.

Wafrah for Industry and Development Co. issued its prospectus for capital increase through offering 15.43 million rights issue shares.

 

On April 4, the Capital Market Authority (CMA) approved the company's application to raise its capital through a SAR 154.3 million rights issue.

 

Capital will be increased by 200% to SAR 231.51 million from SAR 77.17 million, through offering rights shares at a nominal value of SAR 10 each.

 

The company aims to use the funds to expand its activities, the automation of production line and optimize the reach of its brand to cover all regions of the Kingdom. This is expected to have a positive impact on the company’s profit and its goals.

 

Capital Hike Highlights

Current capital

SAR 77.17 mln

Number of shares

7.72 mln

Capital hike%

200%

Capital after increase

SAR 231.51 mln

Number of shares after increase

23.15 mln shares
 

Rights Issue Details

Number of rights shares

15.43 mln

Offering price per share

SAR 10

Size of issue

SAR 154.3 mln

Eligibility Ratio

Each listed shareholder shall have the right to subscribe to six shares per each owned share.

Record date

Shareholders of record by the close of trading on the EGM date

 

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