Logo of Sadr Logistics

Sadr Logistics Co. has launched, today, Dec. 6, the rights issue trading period and subscription to new shares to raise its capital by 600% to SAR 175 million.

 

The rights trading will end on Dec. 13, while the subscription process will close on Dec. 16.

 

Sadr will issue 15 million shares at SAR 10 each. Each shareholder of record will be eligible for six rights for every share held on the record date.

 

Capital Hike Highlights

Current capital

SAR 25 mln

Number of shares

2.5 mln

Capital hike (%)

600%

Capital after increase

SAR 175 mln

Number of shares after increase

17.5 mln shares
 

Rights Issue Highlights

Number of rights shares

15 mln

Offering price per share

SAR 10

Size of issue

SAR 150 mln

Eligibility ratio

Each registered shareholder shall have the right to six rights for every share held

Record date

Dec. 1 (Shareholders of record by the close of trading on the second day following the EGM date)

Rights trading period

From Dec. 6-13

Subscription to new shares period

From Dec. 6-16

Rights issue proceeds

Investment in logistics (transportation and storage for others)

SAR 128.5 mln

Development of operational sectors (machinery, equipment, and fixtures)

SAR 18.0 mln

Issue costs

SAR 3.5 mln

 

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