Saudi Paper Manufacturing Co. (SPM) issued prospectus for its SAR 100 million rights issue through offering 10 million shares, the company said in a bourse filing on Thursday.
The offering price was set at SAR 10 per share, to increase capital from SAR 92 million to SAR 192 million.
On Oct. 6, the Capital Market Authority (CMA) approved SPM’s request to increase its capital by SAR 100 million, Argaam reported.
|
Key Figures of the Capital Hike |
|
|
Current Capital |
SAR 92 mln |
|
Number of shares |
9.2 mln shares |
|
Hike (%) |
108.7% |
|
New capital |
SAR 192 mln |
|
Number of shares after increase |
19.2 mln |
|
Key Figures of the Rights Issue |
|
|
Number of rights issue shares |
10 mln shares |
|
Issue price |
SAR 10 |
|
Issue size |
SAR 120 mln |
|
Record date |
End of second trading day after the extraordinary general meeting date. |
|
Use of proceeds |
To purchase raw materials that are tree pulp to feed the company's production lines, rebuild assets to improve production quality, purchase machines to increase the amount of production and repay part of the bank loans |
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}