CMA green lights Thimar’s SAR 150 mln rights issue to hike capital

One of Thimar’s branches

The Capital Market Authority (CMA) approved the application received from Thimar Development Holding Co. to increase its capital by way of a SAR 150 million rights offering.  

Eligible shareholders are those registered with the Security Depository Center (Edaa) as of the close of the second trading day after the extraordinary general meeting (EGM), which will be determined by the board of directors at a later date.

The offering price and number of shares offered will be set by the company after the close of trading on the EGM date. The rights offering prospectus will be issued later.

An investment decision based on the company’s board recommendation to increase its capital or the CMA’s approval without carefully reading the rights issue prospectus or fully reviewing its content may involve high risk.

The CMA’s approval of the prospectus should never be considered as a recommendation to participate in the offering nor invest in the company's shares. It merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met.

The company’s board of directors amended, in June, its proposal to increase capital via a SAR 150 million rights offering instead of SAR 100 million, according to data available with Argaam.