Lazurde rights subscription period ends today

17/06/2021 Argaam

A branch of Lazurde


Lazurde Company for Jewelry (Lazurde) rights subscription period ends today, June 17.

 

Subscription period started on Monday, June 7, to increase the company’s capital from SAR 430 million to SAR 575 million, through a rights issue of 14.5 million shares at SAR 10 per share.

 

Rights trading period, which also started on June 7, ended on Monday, June 14.

 

Key Figures in Capital Hike

Current Capital

SAR 430 mln

Number of Shares

43 mln

Capital Hike

34%

Capital After Increase

SAR 575 mln

Number of Shares After Increase

 57.5 mln

 

 

Key Figures in Rights Issue

Number of Offered Shares

14.5 mln 

Offering Price

SAR 10

Issue Size

SAR 145 mln

Rights trading period

From June 7, 2021, to June 14, 2021

Subscription period

From June 7, 2021, to June 17, 2021

Record Date

June 2, 2021 (Shareholders of record on the day of the EGM during which the capital increase will be discussed, along with those on record on the second trading day following the EGM)

Use of proceeds

Repayment of long-term bank facilities from SABB

SAR 75 mln

Repayment of long-term bank facilities from SABB

SAR 30 mln

New store openings, expanding the retail business portfolio

SAR 28 mln

Developing e-commerce platforms

SAR 6 mln

Offering expenses

SAR 6 mln

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