Lazurde rights trading, subscription period begins today

Logo of Lazurde Company for Jewelry

Lazurde Company for Jewelry (Lazurde) subscription to new shares and rights trading begins today, June 7, 2021,  to increase capital from SAR 430 million to SAR 575 million.

Rights trading will end on Monday, June 14, while the subscription to new shares will close on Thursday, June 17.

The company intends to offer 14.5 million shares at SAR 10 per share, granting each registered shareholder at the record date nearly 0.327 right for each share held.

Rights issue holders are allowed to exercise their right to subscribe to new shares (in full or in part) up to the number available in their portfolios. Trading in rights issue and subscription to new shares for registered shareholders and new investors will be as per the prospectus.

In the event that shares remain unsubscribed, the remaining shares and fractional shares, if any, will be offered to institutional investors, according to the prospectus. The financial advisor and the underwriter Samba Capital & Investment Management Co. (Samba Capital) will undertake to underwrite the rights issue if the entire subscription is not fully covered.

Investors not willing to subscribe must sell the rights issue during the specified trading period to avoid the resulting decline in the value of their investment portfolios as a result of not benefiting from their rights, whether by way of sale or subscription.

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