Mobile Telecommunication Company Saudi Arabia’s (Zain Saudi) subscription to new shares will close today, Oct. 29, 2020.
Subscription period began on Oct. 19, 2020, as the telco issued 450 million shares at SAR 10 each to increase its capital from SAR 4.48 billion to SAR 8.98 billion.
Rights trading ended on Oct. 26.
The following table illustrates the capital hike details:
|
Capital Hike Details |
|
|
Current Capital |
SAR 4.48 bln |
|
Number of shares |
448.7 mln shares |
|
Increase percentage |
100.28% |
|
New Capital |
SAR 8.98 bln |
|
Number of shares after increase |
898.7 mln shares |
|
Rights Issue Details |
|
|
Number of rights shares |
450 million shares |
|
Offering price per share |
SAR 10 |
|
Size of issue |
SAR 4.50 bln |
|
Record date |
Oct. 14, 2020 (Shareholders of record at the Securities Depository Center Co. (Edaa) on Oct. 18, 2020) |
|
Eligibility |
1.003 rights for every 1 share held |
|
Date of rights trading and subscription |
Oct. 19, 2020 |
|
End date of rights trading |
Oct. 26, 2020 |
|
End date of subscription |
Oct. 29, 2020 |
|
Reason |
- Partial repayment of SAR 1.67 bln worth of dues owed to Kuwait’s Zain Group - Partial repayment of Murabaha facilities at SAR 2.77 bln - Subscription fees at SAR 65 mln |
|
Additional Details |
|
|
Financial advisor and underwriter |
Saudi Fransi Capital, ANB Invest, Al Rajhi Capital |
|
Lead manager |
Saudi Fransi Capital |
|
Underwriters |
Saudi Fransi Capital, ANB Invest, Al Rajhi Capital, Aljazira Capital, Riyad Capital, Alinma Investment |
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