Logo of Al-Baha Investment and Development Co.
Al-Baha Investment and Development Co. announced the prospectus for its capital increase through offering rights issue shares worth SAR 120 million.
The capital will be increased to SAR 297 million, through offering 12 million rights issue shares at a nominal value of SAR 10 each.
The capital hike is aimed to finance the execution of future plans and projects, as well as expansion of the company's various activities, in addition to lowering the percentage of accumulated losses.
The Capital Market Authority (CMA) approved, on Dec. 13, 2021, Al-Baha’s application to increase capital through SAR 120 million rights issue, as per Argaam data.
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Capital Hike Details |
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Current Capital |
SAR 177 mln |
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Number of shares |
17.7 mln shares |
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Capital hike% |
67.79% |
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Capital after increase |
SAR 297 mln |
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Number of shares after increase |
29.7 mln shares |
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Rights Issue Details |
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Number of offered shares |
12 mln shares |
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Offering price per share |
SAR 10 |
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Size of issue |
SAR 120 mln |
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Eligibility coefficient |
Nearly 0.68 right for every share held |
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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 diversified income generating assets |
SAR 90.43 mln |
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Payment of dues to the Zakat, Tax and Customs Authority |
SAR 14.85 mln |
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Payment of deposits of auction shares under settlement |
SAR 10.72 mln |
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Payment of the offering fees and costs |
SAR 4.00 mln |
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