CMA approves Anaam’s request to raise capital via SAR 236M rights issue

Logo of naam International Holding Group Co.

The Capital Market Authority (CMA) approved Anaam International Holding Group's request to increase its capital through a SAR 236.25 million rights offering.

This approval followed reviewing the company's application in light of the governing regulatory requirements, and the quantitative and qualitative criteria applicable to all companies requesting a capital increase.

According to the CMA’s statement, the increase will be limited to shareholders who are registered with the Securities Depository Center Co. (Edaa) by the close of trading on the second day following the extraordinary general meeting (EGM) date, which will be determined by the company's board later.

The offering price and the number of shares offered will be determined by the company after the close of trading on the EGM date.

The rights issue prospectus will be posted and made available to the public later, the statement noted.

The CMA stated that its approval of the issuance prospectus should not be construed as an endorsement of the investment viability in the offering or the shares of the respective company. The authority's decision to approve the issuance prospectus signifies compliance with regulatory requirements under the Capital Market Law and its Implementing Regulations.

Investors must review the prospectus, which contains detailed information about the company, the offering, and risk factors, the CMA added.

Investors are advised to carefully study this document to assess the feasibility of investing in the offering, taking into account associated risks. In case of difficulty understanding the contents of the issuance prospectus, it is recommended to consult a licensed financial advisor.

According to data available on Argaam, Anaam’s board of directors decided in May 2023 to amend the recommendation of increasing the company's capital, by offering priority rights shares, from SAR 157.5 million to SAR 236.25 million.