Logo of Naseej International Trading Co.

The Securities Depository Center Company (Edaa) deposits today, Nov. 9, Naseej International Trading Co.'s tradable rights into the accounts of the securities’ holders, according to a bourse filing.

 

The company’s shareholders approved the board’s recommendation to increase capital to SAR 211.6 million from SAR 61.6 million, via a SAR 150 million rights issue, during the extraordinary general meeting (EGM) held on Nov. 4, Argaam reported.

 

Subscription to new shares and rights trading begins today.

 

Rights trading will end on Nov. 16, while subscription to the new shares will close on Nov. 21.

 

 Capital Increase Details

Current Capital

SAR 61.63 mln

Number of Shares

6.16 mln 

Capital Hike%

243.38% 

Capital After Increase

SAR 211.63 mln

Number of Shares After Increase

21.16 mln

Method of Increase

Offering and listing 15 mln rights shares

Reasons for Capital Increase

To raise the company’s solvency, undertake strategic expansions, improve the financial performance as well as borrowing rates and its related costs.

Record Date

Nov. 4, 2021 for shareholders of record on the second trading day following the EGM.
 

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Naseej shareholders approve capital hike to SAR 211.6 mln via rights issue

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