Wafrah rights trading, new shares subscription begin today

20/06/2022 Argaam Special
Logo ofWafrah for Industry and Development Co.

Logo of Wafrah for Industry and Development Co.


Wafrah for Industry and Development Co. subscription to new shares and rights trading begins today, June 20, to increase capital by 200% from SAR 77.17 million to SAR 231.51 million.

 

Rights trading will end on June 27, while subscription to the new shares will close on June 30.

 

The company intends to offer 15.43 million shares, at SAR 10 each, granting each registered shareholder on the record date two rights for every share held. 

 

Capital Increase Details 

Current Capital  

SAR 77.17 mln 

Number of Shares 

7.72 mln  

Percentage of Increase 

200% 

New Capital 

SAR 231.51 mln 

Number of Shares 

23.15 mln  

 

Rights Issue Details 

Number of Shares Offered 

15.43 mln  

Offering Price 

SAR 10/share 

Size of Issue 

SAR 154.3 mln 

Eligibility Coefficient  

Two rights for every share held 

Record Date 

June 14, 2022 (Including shareholders registered with Edaa by the end of second trading day after the record date)

 

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 that shares remain unsubscribed, remaining and fractional shares, if any, will be offered to institutional investors, according to the prospectus.

  

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, the company said.

 

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