Logo of Tihama Advertising and Public Relations Co.
Tihama Advertising and Public Relations Co. issued its prospectus for capital increase through a SAR 350 million rights issue.
The company plans to offer 35 million shares, at SAR 10 per share, to raise the capital by 700%.
Tihama aims to finance expansion plans and future investments, support working capital and pay off financial liabilities.
Last October, the Capital Market Authority (CMA) approved the company's application to raise its capital to SAR 400 million via a rights issue.
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Capital Hike Highlights |
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Current capital |
SAR 50 mln |
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Number of shares |
5 mln |
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Capital hike (%) |
700% (seven shares each) |
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Capital after increase |
SAR 400 mln |
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Number of shares after increase |
40 mln |
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Rights Issue Details |
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Number of rights shares |
35 mln |
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Offering price per share |
SAR 10 |
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Size of issue |
SAR 350 mln |
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Eligibility Ratio |
Each listed shareholder shall have the right to subscribe to seven shares for each share owned. |
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Record date |
Feb. 26, 2023 (Shareholders of record who are registered with the Securities Depository Center Co. at the end of the second trading day following the EGM date) |
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Offering Proceeds |
Investments, stake acquisitions, and partnerships |
SAR 154 |
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Expansion and restructuring of the retail business |
SAR 33.6 |
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Payment of liabilities due to government entities |
SAR 31.8 mln |
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Payment of dues under final court rulings |
SAR 28.4 mln |
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Payment of liabilities due to financing agencies |
SAR 20.9 mln |
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Expand and enhance advertising sites |
SAR 17.4 mln |
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Expansion in the education business |
SAR 16.0 mln |
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Support working capital |
SAR 12.8 mln |
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Expansion in the production business |
SAR 8.0 mln |
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Offering costs |
SAR 27.0 mln |
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Total |
SAR 350 mln |
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