FIPCO issues prospectus for SAR 115 mln rights offering

Logo of Filing and Packing Materials Manufacturing Co. (FIPCO)

Filing and Packing Materials Manufacturing Co. (FIPCO) announced a prospectus for its capital increase through a SAR 115 million rights offering.

The company will offer 11.5 million shares at SAR 10 each, to increase the capital by 100%, to SAR 230 million.

The Capital Market Authority (CMA) approved, in November 2022, the request received from the company to increase capital through a rights issue, as per Argaam's data.

The company will use the rights issue proceeds in investment expansions and repayment of loans, as well as financing working capital.

Capital Hike Details
Current Capital	SAR 115 mln
Number of Shares	11.5 mln
Percentage Increase	100% (one right for every one share held)
New Capital	SAR 230 mln
Number of Shares	23 mln

Rights Issue Details
Offered shares	11.5 mln
Offer price	SAR 10
Size of issue	SAR 115 mln
Eligibility ratio	Registered shareholders shall have one right for every share held.
Record date	The increase will be limited to the shareholders registered with Edaa by the close of trading on the second trading day after the extraordinary general assembly meeting (EGM).
Rights issue proceeds	Investment expansions	SAR 49 mln
	Repayment of loans	SAR 30 mln
	Financing working capital	SAR 32 mln
	Offering costs	SAR 4 mln

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Comments {{getCommentCount()}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}}

Most Read

Market Indices

Quotes

Popular Links

Quick Links

About Us

Join Us

Follow Us