Saudi Paper rights trading period ends today

21/12/2020 Argaam


Saudi Paper Manufacturing Co. (SPM) rights trading period ends today, Dec. 21, 2020.

 

Rights trading started on Dec. 14, 2020, to increase the company’s capital to SAR 192 million from SAR 92 million, through a SAR 100 million rights issue.

 

Rights holders are entitled to subscribe to the new shares partially or fully on a pro rata basis.

 

On Oct. 6, 2020, the Capital Market Authority (CMA) approved SPM’s request to raise 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 100 mln

Record date

By the close of the second trading day after the extraordinary general meeting date

Rights Trading

Dec. 14- 21, 2020

Subscription Period

Dec. 14-24, 2020

Use of proceeds

To purchase raw materials, mainly tree pulp, for the company's production lines; rebuild assets to improve production quality; purchase equipment to boost 
production and repay part of the bank facilities

 

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