Logo of Filing and Packing Materials Manufacturing Co. (FIPCO)
Filing and Packing Materials Manufacturing Co. (FIPCO) announced a prospectus for its capital increase through a SAR 115 million rights offering.
The company will offer 11.5 million shares at SAR 10 each, to increase the capital by 100%, to SAR 230 million.
The Capital Market Authority (CMA) approved, in November 2022, the request received from the company to increase capital through a rights issue, as per Argaam's data.
The company will use the rights issue proceeds in investment expansions and repayment of loans, as well as financing working capital.
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Capital Hike Details |
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Current Capital |
SAR 115 mln |
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Number of Shares |
11.5 mln |
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Percentage Increase |
100% (one right for every one share held) |
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New Capital |
SAR 230 mln |
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Number of Shares |
23 mln |
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Rights Issue Details |
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Offered shares |
11.5 mln |
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Offer price |
SAR 10 |
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Size of issue |
SAR 115 mln |
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Eligibility ratio |
Registered shareholders shall have one right for every share held. |
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Record date |
The increase will be limited to the shareholders registered with Edaa by the close of trading on the second trading day after the extraordinary general assembly meeting (EGM). |
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Rights issue proceeds |
Investment expansions |
SAR 49 mln |
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Repayment of loans |
SAR 30 mln |
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Financing working capital |
SAR 32 mln |
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Offering costs |
SAR 4 mln |
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