Logo of Naseej International Trading Co.
Naseej International Trading Co.’s board of directors updated today, March 28, a previous recommendation on increasing capital through SAR 163.46 million instead of SAR 108.97 million rights issue.
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Capital Hike Highlights |
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Current Capital* |
SAR 108.97 mln |
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Number of Shares* |
10.90 mln |
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Capital Hike (%) |
150% |
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Capital after Increase |
SAR 272.43 mln |
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Number of Shares after Increase |
27.24 mln |
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Reason |
Reduce borrowing rates, finance working capital and support the company's transformation plan to operate through strategic units |
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Method |
Issue 16.35 mln shares via 1.5-for-1 rights issue |
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Eligibility |
On the date of the EGM deciding the capital increase, for shareholders registered with Edaa by the close of trading on the EGM date, to be set later |
The capital increase recommendation is subject to the approval of competent regulatory authorities and the company’s extraordinary general assembly.
Updates will be announced when the capital reduction and increase file is submitted to the Capital Market Authority (CMA) for approval, Naseej added.
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