Logo of Saudi Cable Co.
Saudi Cable Co. (SCC) announced the prospectus for its capital increase through offering rights issue shares worth SAR 500 million.
The capital will be increased to SAR 762.31 million, through offering 50 million rights issue shares at a nominal value of SAR 10 each.
The move aims to restructure capital and inject fresh liquidity to provide working capital, so that the company can boost its operating capacity and support future business.
The Capital Market Authority (CMA) recently approved SCC's application to increase capital through SAR 500 million rights issue, as per Argaam data.
|
Capital Hike Details |
|
|
Current capital |
SAR 262.31 mln |
|
Number of shares |
26.23 mln |
|
Capital hike% |
190.61% |
|
Capital after increase |
SAR 762.31 mln |
|
Number of shares after increase |
76.23 mln |
|
Rights Issue Details |
||
|
Number of offered shares |
50 mln |
|
|
Offering price per share |
SAR 10 |
|
|
Size of issue |
SAR 120 mln |
|
|
Eligibility coefficient |
Nearly 1.91 rights for every share held |
|
|
Record date |
Shareholders of record by the close of trading on the extraordinary general meeting (EGM) date and shareholders registered with the company at the end of the record date; the second date following the EGM date that will decide on the capital increase |
|
|
Rights issue proceeds |
Working capital |
SAR 395.74 mln |
|
Outstanding liabilities |
SAR 75.23 mln |
|
|
Offering costs |
SAR 8.73 mln |
|
|
Spare parts for equipment and machinery to match the target production |
SAR 7.51 mln |
|
|
Spare parts for maintenance and production |
SAR 5.64 mln |
|
|
System upgrade for electrical loads |
SAR 2.35 mln |
|
|
General requirements and equipment purchase for transportation |
SAR 2.61 mln |
|
|
Optimization of the control system and energy consumption |
SAR 2.18 mln |
|
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}