Logo of Saudi Arabian Amiantit Co.
Subscription to the rights issue of Saudi Arabian Amiantit Co. ended today, March 10.
The subscription period began on Feb. 27. This is to increase the company's capital from SAR 99 million to SAR 445.5 million by issuing 34.65 million rights shares at SAR 10 each.
The rights trading ended on March 5.
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Capital Increase Details |
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Current Capital |
SAR 99 mln |
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Current Number of Shares |
9.90 mln |
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New Capital |
SAR 445.5 mln |
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New Number of Shares |
44.55 mln |
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Percentage Increase |
350% |
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Rights Issue Details |
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Offered Shares |
34.65 mln |
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Offer Price |
SAR 10/share |
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Issue Size |
SAR 364.5 mln |
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Subscription Period |
Feb. 27 to March 10, 2024 |
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Reason |
Supporting working capital and paying some financial obligations |
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Record Date |
Feb. 20, 2024 |
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Eligibility Ratio |
3.5 rights for every 1 share held |
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Planned Utilization of Proceeds (SAR mln) |
Financing working capital |
165 |
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Loan repayment |
156.5 |
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Offering costs |
25.0 |
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Total |
346.5 |
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Additional Information |
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Financial Advisor and Underwriter |
Wasatah Capital |
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Lead Manager |
Al-Nefaie Investment |
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