Raydan Food rights issue subscription ends today

A branch of Raydan Food

Subscription to Raydan Food Co.’s rights issue, which started on Aug. 9, will end today, Aug. 19, according to a bourse filing.

According to data compiled by Argaam, shareholders of Raydan Food approved, during a meeting held on July 13, increasing the company's capital - by SAR 112.5 million rights issue - to SAR 337.5 million from SAR 225 million.

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 trading period Subscription period	Aug. 9-16, 2021 Aug. 9-19, 2021
Record date	July 13, 2021
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

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Raydan Food’s rights trading period ends today

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