Saudi Arabian Amiantit Co. headquarters
Saudi Arabian Amiantit Co. rights trading period ends today, March 5.
Rights trading started on Feb. 27, to increase the company's capital by SAR 346.5 million to SAR 445.5 million from SAR 99 million.
Subscription period, which also started on Feb. 27, will continue until March 10.
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.
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Details of Capital Increase |
|
|
Current capital |
SAR 99 mln |
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Current number of shares |
9.90 mln |
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Capital after increase |
SAR 445.5 mln |
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Number of shares |
44.55 mln |
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Percentage of increase |
350% |
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Rights Issue Details |
||
|
Offered shares |
34.65 mln |
|
|
Offer Price |
SAR 10/share |
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Issue Size |
SAR 346.5 mln |
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Rights Subscription Period |
Feb. 27-March 10 |
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Rights Trading Period |
Feb. 27-March 5 |
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Reason |
To finance the working capital and repay some banking obligations |
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Record Date |
Feb. 20, 2024 |
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|
Eligibility Ratio |
3.5 rights for every share owned |
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|
Rights Issue Proceeds (SAR mln) |
Financing working capital |
165 |
|
Repaying bank loans |
156.5 |
|
|
Offering costs |
25 |
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Total |
346.5 |
|
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Additional Information |
|
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Financial Advisor and Underwriter |
Wasatah Capital |
|
Lead Manager |
Al Nefaie Investment |
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