Tihama Advertising and Public Relations Co. on Sunday announced the publication of the priority rights issue prospectus, it said in bourse statement.

 

Last month, the Capital Market Authority (CMA) approved Tihama’s request to raise its capital to SAR 175 million from SAR 75 million through SAR 100 million rights issue to boost the company’s expansions.

 

The total number of shares will increase to 17.5 million from 7.5 million.

 

The Saudi-based firm noted that the right issuance and prospectus will be stopped in case it is not approved by shareholders, who are set to vote on Feb.  19.

 

Moreover, the company appointed FALCOM Financial Services as a financial advisor.

 

Key Figures of the Capital Hike

Current capital

SAR 75 mln

Number of shares

7.5 mln shares

Hike (%)

133.3%

New capital

SAR 175 mln

New shares

17.5 mln shares

Rights Issue Details

Number of rights issue shares

10.0 mln shares

Issue price

SAR 10/share

Issue size

SAR 100 mln

Record date

Same day of the extraordinary general assembly’s meeting

Start of trading right issue

To be announced later

End of trading issue

To be announced later

End of trading new shares

To be announced later

Use of Proceeds

To support the company’s expansion plan

Additional Information

Financial advisor/Underwriter

FALCOM Financial Services

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