Al Kathiri rights issue closes today

22/10/2020 Argaam


The subscription to Al Kathiri Holding Co.'s rights issue closes today, Thursday, Oct. 22, to increase capital from SAR 45.21 million to SAR 90.42 million, the company said in a bourse statement.

 

Subscription started on Oct. 12, as 4.52 million shares were offered at SAR 10 each at a total value of SAR 45.21 million. Rights trading period ended on Oct. 19.

 

Details of Capital Hike

Current Capital

SAR 45.21 mln

Number of shares

4.52 mln

Increase (%)

100%

New Capital

SAR 90.42 mln

New Shares

9.04 mln shares

Key Figures of the Rights Issue

Number of rights shares

4.52 mln

Offering price

SAR 10

Offering size

SAR 45.21 mln

Record date

Oct. 5 (shareholders of record at Edaa by the close of trading on the second day following this date)

Eligibility ratio

1 right for every 1 share held

Beginning of rights trading period and new shares subscription

Oct. 12

End of rights trading period

Oct. 19

End of new shares subscription period

Oct. 22

Use of rights issue proceeds

Support the company’s expansions as well as working capital, to help the company boost its operating capacity and future activity.

Additional Information

Financial Advisor, Lead Manager and Underwriter

Falcom Financial Services

 

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