Logo of Saudi Real Estate Co. (Al Akaria)
Saudi Real Estate Co.’s (Al Akaria) subscription to new shares will close today, June 9.
Subscription to new shares and rights trading began on May 30, to increase capital by 56.25% to SAR 3.75 billion from SAR 2.4 billion.
The developer intended to offer 135 million shares, at SAR 11.80 each, granting each registered shareholder on the record date 0.5625 rights for every share held.
Al Akaria rights trading period ended on June 6.
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Capital Increase Details |
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Current capital |
SAR 2.4 bln |
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Number of shares |
240 mln |
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Capital increase (%) |
56.25% |
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Capital after increase |
SAR 3.75 bln |
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Number of shares after increase |
375 mln |
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Rights Issue Details |
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Number of shares offered |
135 mln |
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Offer price |
SAR 11.80 |
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Size of issue |
SAR 1.593 bln |
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Eligibility ratio |
Each shareholder of record will be granted 0.5625 rights for every share held |
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Record date |
May 18, 2022, including shareholders registered with the Securities Depository Center (Edaa) by the close of trading on the second day after the extraordinary general meeting date |
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Rights issue proceeds |
Financing and implementing the company's plans and future projects, and expanding its various activities, in addition to paying off part of the credit facilities |
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