Logo of National Metal Manufacturing and Casting Co.
The subscription to National Metal Manufacturing and Casting Co.’s (Maadaniyah) new shares will close today, Dec. 9, to increase capital from SAR 234 million to SAR 354 million.
Subscription to the company’s new shares and rights trading began on Nov. 29, and rights trading ended on Dec. 6.
The company planned to offer 12 million shares at SAR 10 per share, granting each registered shareholder on the record date nearly 0.513 rights for each share held.
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Capital Increase Highlights |
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Current Capital |
SAR 234 mln |
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Number of Shares |
23.40 mln |
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Increase Percentage |
51.3% |
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Capital After Increase |
SAR 354 mln |
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Number of Shares after Increase |
35.40 mln |
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Rights Issue Highlights |
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Number of Shares Offered |
12 mln shares |
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IPO Price |
SAR 10/share |
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Size of Issue |
SAR 120 mln |
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Rights Coefficient |
0.513 for each outstanding share |
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Rights Trading Period |
Nov. 29 – Dec. 6 |
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Subscription to New Shares |
Nov. 29 – Dec. 9 |
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Record Date |
Nov. 23, 2021 |
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Use of Proceeds |
High-pressure valves factory |
SAR 30 mln |
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Repayment of loans |
SAR 25 mln |
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Working capital |
SAR 24.5 mln |
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Wire production line project |
SAR 20.0 mln |
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Aluminum casting factory |
SAR 15.0 mln |
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Issue expenses |
SAR 5.50 mln |
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