Sadr Logistics to launch rights trading, subscription to new shares on Dec. 6

Logo of Sadr Logistics

Sadr Logistics Co. said that the rights issue trading period and subscription to new shares will begin on Dec. 6.

The rights trading will end on Dec. 13, while the subscription process will close on Dec. 16.

Rights issue holders are allowed to exercise their right to subscribe to new shares (in full or in part) up to the number of shares 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 of unsubscribed shares, remaining 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.

According to data compiled by Argaam, the company’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.

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