Amiantit issues prospectus for capital top-up via SAR 346.5 mln rights issue

Saudi Arabian Amiantit Co.’s headquarters

Saudi Arabian Amiantit Co. announced today, March 6, the prospectus for its capital increase through offering rights issue shares worth SAR 346.5 million.

Capital will be increased to SAR 445.5 million, through offering 34.65 million rights issue shares at a nominal value of SAR 10 each.

The move is aimed to support Amiantit’s working capital.

The Capital Market Authority (CMA) approved, in December 2022, the request received from the company to increase capital through a SAR 346.5 million rights issue, as per Argaam's data.

Rights Issue Details
Offer Shares	34.65 mln
Offer Price	SAR 10/share
Issue Size	SAR 346.50 mln
Eligibility Ratio	Each listed shareholder shall have the right to subscribe to nearly 3.5 rights for each owned share
Record Date	Shareholders who are registered with Edaa by the close of trading on the second trading day after the extraordinary general meeting (EGM) that will decide the capital increase
Rights Issue Proceeds	Purchase of spare parts for maintenance and production	SAR 21.44 mln
	Working capital	SAR 311.06 mln
	Offering costs	SAR 14.00 mln

 

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