Logo of Tourism Enterprise Co.
Tourism Enterprise Co.’s (Shams) rights trading period will end today, Dec. 4, to increase capital to SAR 578.24 million from SAR 52.57 million, according to a statement to Tadawul.
Subscription and rights trading period began on Nov. 27. Subscription to the new shares will close on Dec. 7.
The company intends to offer 52.57 million shares at SAR 10 each, granting each registered shareholder nearly 10 rights for every share held on the record date.
Rights issue holders are allowed to exercise their right to subscribe to new shares (in full or in part) up to the number of shares available in their portfolios.
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Capital Increase Details |
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Current capital |
SAR 52.57 mln |
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Number of shares |
5.26 mln |
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Capital increase (%) |
1,000% (10 rights for every share held) |
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Capital after increase |
SAR 578.24 mln |
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Number of shares after increase |
57.82 mln |
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Rights Issue Details |
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Number of shares offered |
52.57 mln |
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Offer price |
SAR 10 |
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Size of issue |
SAR 525.67 mln |
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Eligibility ratio |
Each shareholder on record will be granted 10 rights for every share held |
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Record date |
Nov. 20, 2022 |
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Rights issue proceeds |
Acquiring hotels |
SAR 505.37 mln |
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Offering fees |
SAR 20.3 mln |
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Total |
SAR 525.67 mln |
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