Maaden unveils details of SAR 5.6 bln capital increase

29/10/2014 Argaam (Exclusive)

Saudi Arabian Mining Company (Maaden) issued the prospectus of its SAR 5.6 billion (capital increase) rights issue.
 

In September, the company announced plan to increase its capital to finance its investments at Maaden Waad Al Shamal Phosphate Co. and its aluminum output operations.


An extraordinary general assembly is due on November 13. Only the investors registered on the general assembly’s date will be eligible for subscription.

 

Capital increase details

SAR 9.250 mln

Current Capital

925 million

Current number of shares

N/A

Percentage of the increase (%)

N/A

Resulting capital

The rights issue

N/A

Number of new shares

N/A

Price per share (new)

SAR 5.6 billion

Size of issue

Nov. 13

Record date

 

  1. SAR 21 million of total proceeds will be used to cover the capital increase fees and commissions.

 

  1. Remaining sum will finance the company’s investments at Maaden Waad Al-Shamal Phosphate Company and its aluminum output project.

Use of proceeds

Other details

HSBC

Financial advisor

HSBC & GIB Capital

Lead managers

Samba Capital

Lead Underwriter

Aljazira Capital, GIB Capital & HSBC

Other underwriters

Alinma, Al Rajhi, Al Bilad, Arab National, BJAZ, Saudi Fransi, RIBL, SAMBA, Saudi Hollandi Bank, NCB, SABB & SIBC

Receiving Banks
 

 

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