Naseej issues prospectus for SAR 150 mln rights issue
Logo of Naseej International Trading Co.
Naseej International Trading Co. issued prospectus for its SAR 150 million rights issue, the company said in a bourse filing.
Earlier this month, the Capital Market Authority (CMA) approved a request to increase its capital through a rights issue, according to data compiled by Argaam.
The company’s board of directors also recommended a rights issue to be implemented following the capital cut.
In September 2020, the extraordinary general meeting (EGM) approved reducing the company’s capital by 65.4% to SAR 61.63 million from SAR 178.16 million through writing off 11.65 million shares.
The EGM will discuss the capital increase on Oct. 12.
|
Capital Increase Details |
|
|
Current Capital |
SAR 61.63 mln |
|
Number of Shares |
6.16 mln |
|
Capital Hike % |
243.38 % |
|
Capital after Increase |
SAR 211.63 mln |
|
Number of Shares after Increase |
21.16 mln |
|
Rights Issue Details |
||
|
Number of Rights Shares |
15 mln |
|
|
Offering Price Per Share |
SAR 10 |
|
|
Issue Size |
SAR 150 mln |
|
|
Eligibility Coefficient |
One share for each 2.43 shares held |
|
|
Record Date |
|
|
|
Rights Issue Proceeds |
Settlement of term loans with commercial banks |
SAR 86.7 mln |
|
Working capital (raw materials for yarn products, rugs, carpets, and purchase of finished products for the commercial sector) |
SAR 45.8 mln |
|
|
Extension of yarn extrusion lines |
SAR 8 mln |
|
|
Upgrading the rug and carpet rolls collection plant |
SAR 2 mln |
|
|
Issue costs |
SAR 7.5 mln |
|
Market Indices
Quotes
About Us
Join Us
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}