Tihama issues prospectus to increase capital via SAR 350 mln rights issue

Capital Hike Highlights

Current capital

SAR 50 mln

Number of shares

5 mln

Capital hike (%)

700% (seven shares each)

Capital after increase

SAR 400 mln

Number of shares after increase

40 mln

Rights Issue Details

Number of rights shares

35 mln

Offering price per share

SAR 10

Size of issue

SAR 350 mln

Eligibility Ratio

Each listed shareholder shall have the right to subscribe to seven shares for each share owned.

Record date

Feb. 26, 2023 (Shareholders of record who are registered with the Securities Depository Center Co. at the end of the second trading day following the EGM date)

Offering Proceeds

Investments, stake acquisitions, and partnerships

SAR 154

Expansion and restructuring of the retail business

SAR 33.6

Payment of liabilities due to government entities

SAR 31.8 mln

Payment of dues under final court rulings

SAR 28.4 mln

Payment of liabilities due to financing agencies

SAR 20.9 mln

Expand and enhance advertising sites

SAR 17.4 mln

Expansion in the education business

SAR 16.0 mln

Support working capital

SAR 12.8 mln

Expansion in the production business

SAR 8.0 mln

Offering costs

SAR 27.0 mln

Total

SAR 350 mln