Anaam board recommends SAR 157.5 mln capital increase via rights issue

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Anaam International Holding Group’s board of directors recommended on Oct. 3 to increase capital by SAR 157.5 million via a rights issue, according to a bourse filing.

 

Capital Increase Details

Current Capital

SAR 315 mln

Number of Shares

31.5 mln

Recommended Increase

SAR 157.5 mln

Percentage of Capital

50%

Eligibility

To support working capital, reduce interest rates, and support business growth of the company

Record Date

Shareholders of record on the extraordinary general meeting (EGM) and those registered with Edaa on the second day of trading after the meeting date

Required Approvals

The approvals of the competent authorities and the EGM

Financial Advisor

Wasatah Capital

 

Wasatah Capital was appointed as the financial advisor for the offering .

 

The company will duly announce the related developments upon submitting the request to the Capital Market Authority (CMA).

 

This will be the fourth time for Anaam to increase capital via a rights issue, with earlier increases coming in 2012, 2020, and 2021.

 

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