“Tihama” announces its SAR 75 mn capital raise plan

Tihama Advertising & Public Relations Co. announced the expected plan for its SAR 75m capital raise through a rights issue as follows which has been agreed upon with its IPO financial advisor, Aldukheil Financial Group.

1. Appointing the legal counsel and the due diligence financial advisor on November, 23, 2014.
2. Preparing financial projections and IPO proceeds use plan on November, 26, 2014.
3. Issuing interim financial statements for the third quarter ending 31/12/204 on January, 21, 2015.
4. Preparing financial assessment report, financial and legal due diligence reports as well as IPO prospectus on March, 08, 2015.
5. preparing CMA request file on March, 22, 2015.
6. Submitting the capital raise request to CMA on March, 26, 2015.

According to data available on “Argaam”, the Company’s BOD recommended, in July 2014, to amend the capital raise from SAR 150 mn to SAR 75 mn through a rights issue.