Tihama Advertising and Public Relations Co. said subscription to new shares and the rights trading will start on July 20, 2020.
Rights trading will end on July 27, and subscription to the new shares will close on August 6, the company said in a bourse statement.
Rights holders are entitled to subscribe to the new shares partially or fully pro rata. The remaining shares will be reoffered to institutional investors.
Investors not willing to subscribe to the offering should note the importance of selling the rights they hold during the specified trading period to avoid the resulting decline in the value of their investment portfolios as a result of not benefiting from their rights, whether by way of sale or subscription, the statement added.
In case of under subscription, the financial advisor, lead manager and underwriter, Falcom Financial Services will subscribe to these rights.
On Wednesday, Tihama’s shareholders approved a capital increase from SAR 75 million to SAR 175 million, through a SAR 100 million rights issue, Argaam earlier reported.
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Key Figures of the Capital Hike |
|
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Current capital |
SAR 75 mln |
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Number of shares |
7.5 mln shares |
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Hike |
SAR 100 mln |
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New capital |
SAR 175 mln |
|
New shares |
17.5 mln shares |
|
Driver |
Support the company’s expansions and offset losses. |
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Record date |
The close of trading on the second day following the EGM |
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Method |
Listing SAR 10 mln ordinary shares |
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