Filling and Packing Materials Manufacturing Co.’s (FIPCO) shareholders will vote on increasing capital through a SAR 115 million rights offering, during the extraordinary general meeting (EGM) scheduled for April 13, the company said in a statement to Tadawul.
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Capital Hike Details |
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Current Capital |
SAR 115 mln |
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Number of Shares |
11.5 mln |
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Percentage Increase |
100% (one share for every one share held) |
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New Capital |
SAR 230 mln |
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Number of Shares |
23 mln |
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Rights Issue Details |
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Offered shares |
11.5 mln |
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Offer price |
SAR 10 |
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Size of issue |
SAR 115 mln |
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Eligibility ratio |
Each listed shareholder shall have the right to subscribe to one share per each owned share. |
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Record date |
The increase will be limited to the shareholders who are registered with Edaa by the close of trading on the second trading day after the extraordinary general assembly meeting (EGM). |
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Rights issue proceeds |
Investment expansions |
SAR 49 mln |
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Repayment of loans |
SAR 30 mln |
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Financing working capital |
SAR 32 mln |
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Offering costs |
SAR 4 mln |
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