Logo of Sadr Logistics
Sadr Logistics Co.’s shareholders approved increasing capital from SAR 25 million to SAR 175 million through rights issue worth SAR 150 million, during the extraordinary general assembly meeting held on Dec. 1, according to a bourse filing.
Capital Hike Details |
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Current Capital |
SAR 25 mln |
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Number of shares |
2.5 mln |
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Capital hike% |
600% |
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Capital after increase |
SAR 175 mln |
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Number of shares after increase |
17.5 mln |
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Rights Issue Details |
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Number of rights shares |
15 mln |
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Offering price per share |
SAR 10 |
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Size of issue |
SAR 150 mln |
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Eligibility Ratio |
Each listed shareholder shall have the right to subscribe to six shares per each owned share. |
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Record date |
Shareholders of record by the close of trading on the second day following the EGM date |
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Rights issue proceeds |
Investment in logistics (transportation and storage for others) |
SAR 128.5 mln |
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Development of operational sectors (machinery, equipment, and fixtures) |
SAR 18.0 mln |
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Issue costs |
SAR 3.5 mln |
.In a separate statement, Tadawul announced that the fluctuation limits on Sadr Logistics will be based on a share price of SAR 71.30 and the outstanding orders will be canceled
The priority rights will be deposited into applicable investor’s portfolios on Dec. 6, 2021.
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