Bahri announces its capital raise prospectus

The National Shipping Company of Saudi Arabia (Bahri) announced its capital raise prospectus for an intended merger with Vela International Marine Limited Company.

The Capital Market Authority has recently approved the capital raise Prospectus related to Bahri’s capital raise from SAR 3.15bn to SAR 3.94bn for an intended merger with Vela International Marine Limited Company; according to data compiled by Argaam.

Major Shareholders after IPO
Stake %	Number of shares (million)	Shareholders
22.55%	88.08	Public Investment Fund
20.0%	78.75	Saudi ARAMCO Developmet Co.
55.41%	218.16	Public shareholders
2.04%	8.03	Board members and CEOs
100%	393.75	Total

Capital raise details
m3150 SAR	Current Capital
m shares315	Current No. of shares
m Shares78.75	No. of new shares issued
22.25 SAR	Issuing price per share
m1752.2 SAR	Total value of shares issued
m787.5 SAR	Nominal value of the capital raise
m3937.5 SAR	New capital
m shares393.75	No. of shares after capital raise
25% of the company’s capital before the capital raise	Capital raise %
SAR 4875m (1752.2 in shares to Vela and the remaining amount is to be paid in cash).	Deal value

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