Tihama announces prospectus for SAR 100 mln capital hike
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 |
Related News
Tihama shareholders to vote on SAR 100 mln capital hike on Feb. 19 |
Tihama gets regulatory approval to increase capital |
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