Saudi Paper rights trading period ends tomorrow

Saudi Paper Manufacturing Co. (SPM) rights trading period ends tomorrow, Dec. 21, 2020.

Rights trading started on Dec. 14, to increase the company’s capital from SAR 92 million to SAR 192 million, through a SAR 100 million rights issue.

Rights issue subscription period also started on Dec. 14 and will end on Dec. 24, 2020.

Rights holders are entitled to subscribe to the new shares partially or fully on a pro rata basis.

Key Figures of the Capital Hike
Current Capital	SAR 92 mln
Number of shares	9.2 mln shares
Hike (%)	108.7%
New capital	SAR 192 mln
Number of shares after increase	19.2 mln
Key Figures of the Rights Issue
Number of rights issue shares		10 mln shares
Issue price		SAR 10
Issue size		SAR 100 mln
Record date		By the close of the second trading day after the extraordinary general meeting date.
Start of rights issue trading		Dec. 14, 2020
End of rights issue trading		Dec. 21, 2020
Start of subscription to new shares		Dec. 14, 2020
End of subscription to new shares		Dec. 24, 2020
Use of proceeds		To purchase raw materials, mainly tree pulp to feed the company's production lines, rebuild assets to improve production quality, purchase equipment to boost production and repay part of the bank loans

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