Anaam launches rights trading, subscription process today

Logo of Anaam International Holding Group

Anaam International Holding Group will launch today, May 23, its rights issue and subscription to new shares to raise its capital by 200% from SAR 105 million to SAR 315 million.

The rights trading period will end on May 30, while the subscription to new shares will close on June 2.  

The company will offer 21 million shares, at SAR 10 each, granting each registered shareholder two rights for every share held. 

Rights holders are allowed to exercise their right to subscribe in new shares, in full or in part, up to the number of rights available in their portfolios. Rights trading and subscription to new shares for registered shareholders and new investors will be as per the prospectus.

In case of rump shares, the remaining shares and fractional shares will be offered to institutional investors, in accordance with the prospectus.

Wasatah Capital will underwrite the rights of Anaam if the subscription process is not fully covered.

Investors not willing to subscribe must sell the rights issues they hold during the specified trading period to avoid the resulting decline in the value of their investment portfolios as a result of not benefiting from their rights.

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