Logo of Saudi Paper Manufacturing Co.
Saudi Paper Manufacturing Co. (SPM) announced that subscription period for rights issue shares will end today Nov. 2.
The rights trading period and subscription to the new shares began on Oct. 23; and the rights trading closed on Oct. 30.
According to data available with Argaam, Saudi Paper shareholders approved on Oct. 17 the board of directors' recommendation to increase capital by 75.52% to SAR 337 million from SAR 192 million through a SAR 145 million rights issue.
The company offered 14.5 million shares, at SAR 10 each, granting each registered shareholder 0.755 rights for every share held on the record date.
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Capital Increase Details |
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Current capital |
SAR 192 mln |
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Number of shares |
19.2 mln |
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Capital increase (%) |
75.52% |
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Capital after increase |
SAR 337 mln |
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Number of shares after increase |
33.7 mln |
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Rights Issue Details |
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Number of shares offered |
14.5 mln |
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Offer price |
SAR 10 |
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Size of issue |
SAR 145 mln |
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Eligibility ratio |
Each shareholder on record will be granted 0.755 right for every share owned |
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Record date |
Oct. 17, 2022 |
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Rights issue proceeds |
Acquiring fixed assets |
SAR 92.3 mln |
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Purchasing raw materials |
SAR 33.9 mln |
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Repayment of bank loans |
SAR 15 mln |
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Offering fees |
SAR 3.9 mln |
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