Shams issues prospectus to increase capital via SAR 525.67 mln rights issue

Logo of Tourism Enterprise Co. (Shams)

Tourism Enterprise Co. (Shams) announced today, Oct. 27, issuing the prospectus for its planned SAR 525.67 million rights issue on the Saudi Exchange (Tadawul).

The company plans to offer 52.56 million shares at SAR 10 a share, to increase capital by 1000%. The capital increase will go for financing the acquisition of four- and five-star hotels.

The Capital Market Authority (CMA) approved lately the company’s request to hike capital to SAR 578.24 million via a rights issue.

Key Highlights of Capital Increase
Current Capital	SAR 52.57 mln
Number of Shares	5.26 mln
Percentage of Increase	1,000% (10 shares for every one share)
New Capital	SAR 578.24 mln
New Number of Shares	57.82 mln

Key Highlights of Rights Issue
Number of Offered Shares	52.57 mln
Offering Price	SAR 10
Offering Size	SAR 525.67 mln
Eligibility Ratio	10 rights for every share
Record Date	Shareholders of record and those registered with Edaa on the second trading day after the general meeting.
Proceeds	Acquisition of hotels	SAR 505.37 mln
	Offering expenses	SAR 20.3 mln
	Total	SAR 525.67 mln

For More IPOs

Prospectus

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