Tadawul: Amiantit goes ex-rights today

01/12/2020 Argaam

Shares of Saudi Arabian Amiantit Co. have their ex-rights today, Dec. 1, 2020, in case the capital increase is approved.

 

Amiantit shareholders are set to vote on a 41.95% capital cut to SAR 200 million from SAR 344.52 million through the cancellation of 14.45 million shares, during the extraordinary general meeting (EGM) to be held on Dec. 1, 2020.

 

They will also discuss on increasing the capital to SAR 320 million from SAR 200 million, through a SAR 120 million rights issue.

 

Net proceeds will go for financing the working capital as well as repaying the dues of suppliers and banks.

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