Logo of Al-Omran Industrial Trading Co.
Al-Omran Industrial Trading Co. announced that the period of rights trading and subscription to new shares will start on Nov. 14, according to a Tadawul statement.
The rights trading period will end on Nov. 21, while subscription to new shares will run until Nov. 26, 2023.
Rights holders will be entitled to exercise their subscription right to new shares (in full or in part) up to the number of shares available in their portfolios. Rights trading and subscription to new shares for shareholders of record and new investors will be as per the prospectus.
Unsubscribed and fractional shares, if any, will be offered to institutional investors, according to the prospectus. The underwriter will underwrite the rights if the subscription process is not fully covered.
Investors not willing to subscribe should sell their rights during the specified trading period to avoid any decline in the value of their investment portfolios as a result of not selling or subscribing, the company said.
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Capital Increase Details |
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Current Capital |
SAR 60 mln |
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Current Number of Shares |
6 mln |
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New Capital |
SAR 120 mln |
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New Number of Shares |
12 mln |
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Percentage of Increase |
100% |
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Rights Issue Details |
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Offered Shares |
6 mln |
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Offering Price |
SAR 10 |
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Offering Volume |
SAR 60 mln |
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Entitlement |
Each shareholder will obtain approximately one right per share |
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Record Date |
Nov.8, 2023 (Shareholders of record and those registered with the Securities Depository Center (Edaa) at the end of the second trading day after the EGM |
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Expected Usage of Rights Issue Proceeds |
Construction costs to build a new factory and transfer the existing machinery and equipment in the refrigeration, shelves, and air conditioning plant |
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28 |
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Costs of purchasing new machinery and equipment |
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11 |
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Factory workers’ accommodation costs |
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2 |
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Repayment of bank loans |
14 |
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Purchase of cars |
2 |
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Offering costs |
3 |
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Total |
60 |
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