Raydan Food shareholders approve capital increase via SAR 112.5 mln rights issue

Capital Hike Details

Capital

SAR 225 mln

Number of shares

22.50 mln

Capital hike percentage

50%

Capital after increase

SAR 337.5 mln

Number of shares after increase

33.75 mln

Rights Issue Details

Number of shares offered

11.25 mln

Offering price per share

SAR 10

Issue size

SAR 112.5 mln

Rights coefficient

Each listed shareholder will be granted one rights share for every two shares owned

Record date

Shareholders who own the shares by the end of trading on the date of the EGM, and of record by the close of trading on the second day following the EGM date.

Rights issue proceeds

Completion of Al-Zaydi project

SAR 4 mln

Completion of Al Madinah project

SAR 4.5 mln

Construction of the new university branch

SAR 4 mln

Application of the new identity

SAR 15 mln

Establishment of new branches

SAR 10 mln

Factory and service centers

SAR 20 mln

Repayment of loans

SAR 10 mln

Investment amounts

SAR 9.35 mln

Working capital

SAR 30.72 mln

Offering costs

SAR 4.93 mln