Shams rights trading period closes today

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.

Capital Increase Details
Current capital	SAR 52.57 mln
Number of shares	5.26 mln
Capital increase (%)	1,000% (10 rights for every share held)
Capital after increase	SAR 578.24 mln
Number of shares after increase	57.82 mln

Rights Issue Details
Number of shares offered	52.57 mln
Offer price	SAR 10
Size of issue	SAR 525.67 mln
Eligibility ratio	Each shareholder on record will be granted 10 rights for every share held
Record date	Nov. 20, 2022
Rights issue proceeds	Acquiring hotels	SAR 505.37 mln
	Offering fees	SAR 20.3 mln
	Total	SAR 525.67 mln

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Shams to start rights trading, new shares subscription on Nov. 27

Shams shareholders approve 1,000% capital increase via SAR 525.7 mln rights issue

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