Naseej shareholders approve capital hike to SAR 211.6 mln via rights issue
Logo of Naseej International Trading Co.
Naseej International Trading Co.’s shareholders approved the board’s recommendation to increase capital to SAR 211.6 million from SAR 61.6 million, via a SAR 150 million rights issue, during the extraordinary general meeting (EGM) held on Nov. 4, according to a bourse filing.
|
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 |
|
Method of Increase |
Offering and listing 15 mln rights shares |
|
Reasons for Capital Increase |
To raise the company’s solvency, undertake strategic expansions, improve the financial performance as well as borrowing rates and its related costs. |
|
Record Date |
Nov. 4, 2021 for shareholders of record on the second trading day following the EGM. |
The fluctuation limits will be based on a share price of SAR 38.85 and the outstanding orders will be canceled, Tadawul said in a separate bourse filing.
Rights will be deposited into investor portfolios on Nov. 9, 2021, the statement added.
In September 2020, Naseej 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, Argaam reported. The company’s board of directors had also recommended a capital hike through SAR 150 million rights issue to be implemented following the capital cut.
Related News
| Naseej issues prospectus for SAR 150 mln rights issue |
| Naseej shareholders to vote on capital hike to SAR 211.6 mln via rights issue on Oct. 12 |
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}}