Sadr Logistics shareholders approve capital hike to SAR 175 mln via rights issue

Logo of Sadr Logistics

Sadr Logistics Co.’s shareholders approved increasing capital from SAR 25 million to SAR 175 million through rights issue worth SAR 150 million, during the extraordinary general assembly meeting held on Dec. 1, according to a bourse filing.

Capital Hike Details
Current Capital		SAR 25 mln
Number of shares		2.5 mln
Capital hike%		600%
Capital after increase		SAR 175 mln
Number of shares after increase		17.5 mln
Rights Issue Details
Number of rights shares	15 mln
Offering price per share	SAR 10
Size of issue	SAR 150 mln
Eligibility Ratio	Each listed shareholder shall have the right to subscribe to six shares per each owned share.
Record date	Shareholders of record by the close of trading on the second day following the EGM date
Rights issue proceeds	Investment in logistics (transportation and storage for others)		SAR 128.5 mln
	Development of operational sectors (machinery, equipment, and fixtures)		SAR 18.0 mln
	Issue costs		SAR 3.5 mln

.In a separate statement, Tadawul announced that the fluctuation limits on Sadr Logistics will be based on a share price of SAR 71.30 and the outstanding orders will be canceled

The priority rights will be deposited into applicable investor’s portfolios on Dec. 6, 2021.

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Sadr Logistics issues prospectus for SAR 150 mln rights issue

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