Logo of Al-Baha Investment and Development Co.

Al-Baha Investment and Development Co. announced the prospectus for its capital increase through offering rights issue shares worth SAR 120 million.

 

The capital will be increased to SAR 297 million, through offering 12 million rights issue shares at a nominal value of SAR 10 each.

 

The capital hike is aimed to finance the execution of future plans and projects, as well as expansion of the company's various activities, in addition to lowering the percentage of accumulated losses.

 

The Capital Market Authority (CMA) approved, on Dec. 13, 2021, Al-Baha’s application to increase capital through SAR 120 million rights issue, as per Argaam data.

 

Capital Hike Details

Current Capital

SAR 177 mln

Number of shares

17.7 mln shares

Capital hike%

67.79%

Capital after increase

SAR 297 mln

Number of shares after increase

29.7 mln shares
 

Rights Issue Details

Number of offered shares

12 mln shares

Offering price per share

SAR 10

Size of issue

SAR 120 mln

Eligibility coefficient

Nearly 0.68 right for every share held

Record date

Shareholders of record by the close of trading on the second day following the EGM date

Rights issue proceeds

Investment in diversified income generating assets

SAR 90.43 mln

Payment of dues to the Zakat, Tax and Customs Authority

SAR 14.85 mln

Payment of deposits of auction shares under settlement

SAR 10.72 mln

Payment of the offering fees and costs

SAR 4.00 mln

 

For More IPOs

Rights Issue Prospectus

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