Logo of Abdulmohsen Alhokair Group for Tourism and Development
Abdulmohsen Alhokair Group for Tourism and Development’s (Alhokair Group) rights trading period ends today, Aug. 2.
Rights trading started on July 26, to increase the company’s capital from SAR 343 million to SAR 650 million, through a rights issue of 30.7 million shares at SAR 10 per share.
Rights issue subscription period, which also started on July 26, will end on Aug. 5.
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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Key Figures of the Capital Increase via Rights Issue |
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|
Capital Before Increase |
SAR 343 mln |
|
Number of Shares |
34.3 mln |
|
Increase (%) |
89.5% |
|
New Capital |
SAR 650 mln |
|
New Number of Shares |
65 mln |
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Key Figures of Rights Issue |
||
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Number of Offered Shares |
30.7 mln |
|
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Offering Price |
SAR 10 |
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|
Issue Size |
SAR 307 mln |
|
|
Rights trading period |
From July 26 to Aug. 2 |
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|
Subscription period |
From July 26 to Aug. 5 |
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|
Use of proceeds |
Repayment of bank loans |
SAR 80 mln |
|
Renovation of a number of hotels as well as entertainment and commercial facilities |
SAR 110 mln |
|
|
Financing cinema screens and sports centers (SAR 45 million) |
SAR 45 mln |
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|
Financing working capital (SAR 66.2 million) |
SAR 66.2 mln |
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|
|
Offering costs |
SAR 5.8 mln |
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|
Total |
SAR 307 mln |
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