Nama Chemicals Co. has posted the prospectus of its SAR 200 million rights issue, the company said in a bourse filing.

 

Nama set the offering price at SAR 10 a share, to increase capital from SAR 235.2 million to SAR 435.2 million, through floating 20 million shares.

 

The capital hike aims to finance producing specialized chemical products and increasing the capacity of intermediate products plants.

 

The increase will be limited to shareholders of record on the second trading day following the extraordinary general meeting which is set to be held o March 4, 2019.

 

In January, Saudi Capital Market Authority (CMA) approved Nama’s request to increase capital by SAR 200 million through a rights issue.

  

Capital Hike Details

Current Capital

SAR 235.20 mln

Current number of shares

23.52 mln

Capital hike percentage

85%

Post-increase capital

SAR 435.2 million

 

Rights Issue Details

Number of right shares

20 million shares

Offering price per share

SAR 10

Size of issue

SAR 200 mln

Record date

Extraordinary general meeting day

 

Additional Details

Financial advisor, lead manager and underwriter

Aljazira Capital

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