A branch of Raydan Food Co.
Raydan Food Co.'s subscription to new shares and rights trading begins today, Aug. 9, to increase capital from SAR 225 million to SAR 337.5 million.
Rights trading will end on Aug. 16, while subscription to the new shares will close on Aug. 19.
The company intends to offer 11.25 million shares at SAR 10 per share, granting each registered shareholder at the record date nearly one right for each two shares held.
|
Capital Hike Details |
|
|
Capital |
SAR 225 mln |
|
Number of shares |
22.50 mln |
|
Capital hike percentage |
50% |
|
Capital after increase |
SAR 337.5 mln |
|
Number of shares after increase |
33.75 mln |
|
Rights Issue Details |
||
|
Number of shares offered |
11.25 mln |
|
|
Offering price per share |
SAR 10 |
|
|
Issue size |
SAR 112.5 mln |
|
|
Rights trading period Subscription period |
Aug. 9-16, 2021 Aug. 9-19, 2021 |
|
|
Record date |
July 13, 2021 (Shareholders registered in the company’s shareholders registry upon deposit at the end of the second trading day following the general assembly meeting date.) |
|
|
Rights issue proceeds |
Completion of Al-Zaydi project |
SAR 4 mln |
|
Completion of Al Madinah project |
SAR 4.5 mln |
|
|
Construction of the new university branch |
SAR 4 mln |
|
|
Application of the new identity |
SAR 15 mln |
|
|
Establishment of new branches |
SAR 10 mln |
|
|
Factory and service centers |
SAR 20 mln |
|
|
Repayment of loans |
SAR 10 mln |
|
|
Investment amounts |
SAR 9.35 mln |
|
|
Working capital |
SAR 30.72 mln |
|
|
Offering costs |
SAR 4.93 mln |
|
Rights issue holders are allowed to exercise their right to subscribe to new shares (in full or in part) up to the number available in their portfolios. Trading in rights issue and subscription to new shares for registered shareholders and new investors will be as per the prospectus.
In the event that shares remain unsubscribed, the remaining shares and fractional shares, if any, will be offered to institutional investors, according to the prospectus. FALCOM Financial Services will underwrite the rights issue if the entire subscription is not fully covered.
Investors not willing to subscribe must sell the rights issue during the specified trading period to avoid the resulting decline in the value of their investment portfolios as a result of not benefiting from their rights, whether by way of sale or subscription.
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}