Al-Omran’s rights trading period ends today

21/11/2023 Argaam Special
Logo ofAl-Omran Industries and Trading Co.

Logo of Al-Omran Industries and Trading Co.


Al-Omran Industries and Trading Co.’s rights trading period ends today, Nov. 21. The subscription to new shares and rights trading started on Nov. 14, to increase the company’s capital from SAR 60 million to SAR 120 million.

 

The subscription period, however, will continue until Nov. 26.

 

Rights issue holders are allowed to exercise their right to subscribe to new shares (in full or in part) up to the number of shares available in their portfolios.

 

Capital Increase Details

Current capital

SAR 60 mln

Current number of shares

6 mln

Capital after increase

SAR 120 mln

Number of shares after increase

12 mln

Capital increase (%)

100%

 

Rights Issue Details

Offered shares

6 mln

Offer price

SAR 10

Issue size

SAR 60 mln

Rights subscription

Nov. 14-26, 2023

Rights trading

Nov. 14-21, 2023

Reason

Supporting future plans, cutting borrowing rate and developing the company’s plants

Record date

Nov. 8, 2023

Eligibility ratio

Each shareholder will be granted one right for every share held

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

SAR 28 mln

Costs of purchasing new machinery and equipment

SAR 11 mln

Factory workers’ accommodation costs

SAR 2 mln

Repayment of bank loans

SAR 14 mln

Purchase of cars

SAR 2 mln

Offering fees

SAR 3 mln

Total

SAR 60 mln

 

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