Naseej issues prospectus for capital hike via rights issue

Logo of Naseej International Trading Co.

Naseej International Trading Co. announced the prospectus for its capital increase through a SAR 163.5 million rights offering.

The company’s capital will be raised by 150% to SAR 272.43 million by offering 16.35 million shares at an offer price of SAR 10 each.

According to the prospectus, the company aims to increase its capital to raise its financial solvency, strategic expansion, and improve financial performance, borrowing rates, as well as costs incurred from it.

The company's shareholders will vote on the board's recommendation to increase capital during the extraordinary general assembly meeting, scheduled for Dec. 10, 2023.

The Capital Market Authority (CMA) approved, on Oct. 12, the request received from the company to increase capital through a rights issue, according to data available with Argaam.

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