Mobile Telecommunication Co. Saudi Arabia (Zain Saudi) rights trading period ends today, Oct. 26, 2020.
Rights trading started on Oct. 19, to increase the company’s capital from SAR 4.48 billion to SAR 8.98 billion, through a rights issue of 450 million shares at SAR 10 per share.
Rights issue subscription period, which also started on Oct. 19, will end on Oct. 29, 2020.
Rights holders are entitled to subscribe to the new shares partially or fully pro rata. The remaining shares will be reoffered to institutional investors.
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Capital Hike Details |
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Current Capital |
SAR 4.48 bln |
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Number of shares |
448.7 mln shares |
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Increase percentage |
100.28% |
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Capital after increase |
SAR 8.98 bln |
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Number of shares after increase |
898.7 mln shares |
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Rights Issue Details |
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Number of right shares |
450 million shares |
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Offering price per share |
SAR 10 |
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Size of issue |
SAR 4.50 bln |
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Record date |
Oct. 14, 2020 (Shareholders of record at the Securities Depository Center Co. (Edaa) on Oct. 18, 2020) |
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Eligibility |
1.003 rights for every 1 share held |
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Date of rights trading and subscription |
Oct. 19, 2020 |
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End date of rights trading |
Oct. 26, 2020 |
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End date of subscription |
Oct. 29, 2020 |
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Purpose of capital hike |
Partial repayment of SAR 1.67 bln worth of dues owed to Kuwait’s Zain Group Partial repayment of Murabaha facilities with SAR 2.77 bln Underwriting expenses and fees of SAR 65 mln |
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Additional Details |
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Financial advisor |
Saudi Fransi Capital, ANB Invest, Al Rajhi Capital |
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Lead manager |
Saudi Fransi Capital |
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Underwriters |
Saudi Fransi Capital, ANB Invest, Al Rajhi Capital, Aljazira Capital, Riyad Capital, Alinma Investment |
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