Logo of Naseej International Trading Co.
The Securities Depository Center Company (Edaa) deposits today, Nov. 9, Naseej International Trading Co.'s tradable rights into the accounts of the securities’ holders, according to a bourse filing.
The company’s shareholders approved the board’s recommendation to increase capital to SAR 211.6 million from SAR 61.6 million, via a SAR 150 million rights issue, during the extraordinary general meeting (EGM) held on Nov. 4, Argaam reported.
Subscription to new shares and rights trading begins today.
Rights trading will end on Nov. 16, while subscription to the new shares will close on Nov. 21.
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Capital Increase Details |
|
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Current Capital |
SAR 61.63 mln |
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Number of Shares |
6.16 mln |
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Capital Hike% |
243.38% |
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Capital After Increase |
SAR 211.63 mln |
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Number of Shares After Increase |
21.16 mln |
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Method of Increase |
Offering and listing 15 mln rights shares |
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Reasons for Capital Increase |
To raise the company’s solvency, undertake strategic expansions, improve the financial performance as well as borrowing rates and its related costs. |
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Record Date |
Nov. 4, 2021 for shareholders of record on the second trading day following the EGM. |
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