Subscription period for Savola’s rights shares ends today

Logo of Savola Group

Savola Group’s rights subscription period ends today, Sept. 10.

 

The subscription period started on Aug. 29, to increase the company’s capital by 112.36% from SAR 5.34 billion to SAR 11.34 billion, by offering 600 million ordinary shares at SAR 10 apiece, through right issue worth SAR 6 billion.

 

For More IPOs

 

The rights trading period ended on Sept.5.

 

Capital Increase Details

Current Capital

SAR 5.33 bln

Number of Shares

533.98 mln

New Capital

SAR 11.33 bln

Number of Shares

1.13 bln

Percentage of Capital Increase

112.36%
 

Rights Issue Details

Offered Shares

600 mln

Offer Price

SAR 10

Issue Size

SAR 6 bln

Eligibility Ratio

1.1236 shares per each existing share

Record Date

Aug. 25, 2024 (Shareholders of record who are registered with Edaa by the end of the second trading day following the EGM)

Trading Period

Aug. 29 – Sept. 5, 2024

Subscription Period

Aug. 29 – Sept. 10, 2024

Rights Issue Proceeds (SAR mln)

Repayment of long-term loans

3797

Repayment of short-term loans

2152

Payment of the offering costs

51

Total

6000
 

Additional Information

Financial Advisor

Riyad Capital

Lead Manager, and Underwriter

Riyad Capital- ANB Capital

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