Al-Sorayai Trading and Industrial Group’ shareholders approved, during the extraordinary general assembly held on Jan. 22, a capital hike to SAR 178.160 million from SAR 65.500 million, through rights issue worth SAR 112.660 million, according to a bourse filing.
In a separate statement, the Saudi Stock Exchange (Tadawul) said that the fluctuation limits of Al-Sorayai today Jan. 23 will be based on a share price of SAR 18.90.
In addition, the Securities Depository Center (Edaa) will deposit the company’s rights into investor’s portfolios by Monday Jan. 27.
On Dec. 25, 2019, Al-Sorayai received an approval from the Capital Market Authority (CMA) to increase its capital by SAR 112.660 million.
Key Figures of the Capital Hike |
|
Current capital |
SAR 65.5 mln |
Current number of shares |
6.55 mln |
Capital hike percentage |
172% |
New capital |
SAR 178.16 mln |
New number of shares |
17.81 mln |
Reason for capital hike |
To boost the group’ solvency through restructuring, and develop a business plan focusing on the group’s core activities. |
Right shares |
11.27 mln |
Record date |
The second trading day following the EGM |
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}