Saudi Fisheries Co. (Alasmak) said subscription to new shares and the rights trading will start on June 8, 2020.
Rights trading will end on June 15, and subscription to the new shares will close on June 18, the company said in a bourse statement.
Rights holders are entitled to subscribe to the new shares partially or fully pro rata. The remaining shares will be reoffered to institutional investors.
In case of under subscription, the lead manager and underwriter, Falcom Financial Services will subscribe to these rights.
On May 14, Alasmak’s shareholders approved a capital increase from SAR 101.1 million to SAR 400 million, through a rights issue of 29.8 million shares, Argaam earlier reported.
|
Key Figures of the Capital Hike |
|
|
Current Capital |
SAR 101.1 mln |
|
Number of shares |
10.1 mln |
|
Hike % |
295.7% |
|
New Capital |
SAR 400 mln |
|
New number of shares |
40 mln |
|
Key Figures of the Rights Issue |
|
|
Number of rights issue shares |
29.89 mln |
|
Offering price |
SAR 10 |
|
Offering size |
SAR 298.9 mln |
|
Beginning of rights issue trading period and new shares subscription |
June 8, 2020 |
|
End of rights issue trading period |
June 15, 2020 |
|
End of new shares subscription period |
June 18, 2020 |
|
Record date |
May 14, 2020 (including those registered at the Securities Depository Center two business days following this date) |
|
Use of rights issue proceeds |
Financing restructuring plan and projects operations, covering establishing costs, working capital and loan repayment. |
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Additional Information |
|
|
Financial Advisor, lead manager and underwriter |
Falcom Financial Services |
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