Logo of Saudi Paper Manufacturing Co.

Saudi Paper Manufacturing Co. announced today the prospectus for its capital increase through offering rights issue shares worth SAR 145 million.

 

Capital will be increased to SAR 337 million, through offering 14.5 million rights issue shares at a nominal value of SAR 10 each.

 

The capital increase is aimed to support expansions by injecting fresh funds to provide working capital to boost operating efficiency and support future activity. 

 

The Capital Market Authority (CMA) approved on Sept. 15, the application received from the company to increase capital through SAR 145 million rights issue, as per Argaam's data.

 

Capital Hike Details

Current Capital

SAR 192 mln

Number of shares

19.2 mln

Increase%

75.52%

New Capital

SAR 337 mln

Number of Shares

33.7 mln
 

Rights Issue Details

Offered Shares

14.5 mln

Offer Price

SAR 10

Size of Issue

SAR 145 mln

Eligibility Ratio

Each listed shareholder shall have the right to subscribe to 0.755 shares per each owned share.

Record Date

The increase will be limited to the shareholders who are registered in the Securities Depository Center (Edaa) by the close of trading on the second trading day after the extraordinary general assembly meeting (EGM).

Rights issue proceeds

Purchase of fixed assets

SAR 92.3 mln

Purchase of raw materials

SAR 33.9 mln

Repayment of bank loans

SAR 15 mln

Issue expenses

SAR 3.9 mln
 

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