Al Kathiri Holding Co. subscription to new shares and the rights trading will start on Oct. 12, 2020, the company said in a bourse statement.
Rights trading will end on Oct. 19, while subscription to the new shares will close on Oct. 22, 2020.
Rights holders are entitled to subscribe to the new shares partially or fully pro rata. The remaining shares will be reoffered to institutional investors.
In case of under subscription, the lead manager and underwriter, Falcom Financial Services, will subscribe to these rights.
On Monday, Al Kathiri’s shareholders approved a 100% capital hike from SAR 45.21 million to SAR 90.42 million through a rights issue.
|
Details of Capital Hike |
|
|
Current Capital |
SAR 45.21 mln |
|
Number of shares |
4.52 mln |
|
Increase (%) |
100% |
|
New Capital |
SAR 90.42 mln |
|
New Shares |
9.04 mln shares |
|
Record date |
Oct. 5, 2020 (Shareholders of record on the second day after the general meeting) |
|
Driver |
To support the company's expansions; boost working capital; increase operating capacity and support future projects |
|
Method |
Rights issue of 4.52 mln ordinary shares |
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