One of Lazurde branches
Lazurde Company for Jewelry (Lazurde) rights trading period ends today, June 14.
Rights trading started on June 7, to increase the company’s capital from SAR 430 million to SAR 575 million, through a rights issue of 14.5 million shares at SAR 10 per share.
Rights issue subscription period, which also started on June 7, will end on June 17, 2021.
Rights holders are entitled to subscribe to the new shares partially or fully pro rata. The remaining shares will be reoffered to institutional investors.
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Key Figures in Capital Hike |
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Current Capital |
SAR 430 mln |
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Number of Shares |
43 mln |
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Capital Hike |
34% |
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Capital After Increase |
SAR 575 mln |
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Number of Shares After Increase |
57.5 mln |
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Key Figures in Rights Issue |
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Number of Offered Shares |
14.5 mln |
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Offering Price |
SAR 10 |
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Issue Size |
SAR 145 mln |
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Rights trading period |
From June 7, 2021, to June 14, 2021 |
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Subscription period |
From June 7, 2021, to June 17, 2021 |
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Record Date |
June 2, 2021 (Shareholders of record on the day of the EGM during which the capital increase will be discussed, along with those on record on the second trading day following the EGM) |
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Use of proceeds |
Repayment of long-term bank facilities from SABB |
SAR 75 mln |
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Repayment of long-term bank facilities from SABB |
SAR 30 mln |
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New store openings, expanding the retail business portfolio |
SAR 28 mln |
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Developing e-commerce platforms |
SAR 6 mln |
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Offering expenses |
SAR 6 mln |
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