Amiantit says rights issue closes today

10/03/2024 Argaam Special
Logo ofSaudi Arabian Amiantit Co.

Logo of Saudi Arabian Amiantit Co.

Subscription to the rights issue of Saudi Arabian Amiantit Co. ended today, March 10.

  

The subscription period began on Feb. 27. This is to increase the company's capital from SAR 99 million to SAR 445.5 million by issuing 34.65 million rights shares at SAR 10 each.

 

For More IPOs

 

The rights trading ended on March 5.

 

Capital Increase Details

Current Capital

SAR 99 mln

Current Number of Shares

9.90 mln

New Capital

SAR 445.5 mln

New Number of Shares

44.55 mln

Percentage Increase

350%
 

Rights Issue Details

Offered Shares

34.65 mln

Offer Price

SAR 10/share

Issue Size

SAR 364.5 mln

Subscription Period

Feb. 27 to March 10, 2024

Reason

Supporting working capital and paying some financial obligations

Record Date

Feb. 20, 2024

Eligibility Ratio

3.5 rights for every 1 share held

Planned Utilization of Proceeds (SAR mln)

Financing working capital

165

Loan repayment

156.5

Offering costs

25.0

Total

346.5
 

Additional Information

Financial Advisor and Underwriter

Wasatah Capital

Lead Manager

Al-Nefaie Investment

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