Saudi Paper shareholders to vote on 75.52% capital hike via SAR 145 mln rights issue on Oct. 17

26/09/2022 Argaam

Logo of Saudi Paper Manufacturing Co.

Saudi Paper Manufacturing Co.’s shareholders will vote on a capital increase by 75.52% through offering a SAR 145 million rights issue, during the extraordinary general meeting (EGM) slated for Oct. 17, according to a bourse statement. 

 

Capital Hike Details

Current Capital

SAR 192 mln

Number of Shares

19.2 mln

Capital Hike (%)

75.52%

Capital after Increase

SAR 337 mln

Number of Shares after Increase

33.7 mln

Method

Offering 14.5 mln rights issue shares worth SAR 145 mln

Reason

Boosting the company’s expansions through injecting new cash to finance the working capital, enhance the firm’s operating capacity and support its future business.

Record Date

Oct. 17 (Shareholders registered with Edaa at the end of the second trading day following the EGM date)

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