Logo of Al-Omran Industrial Trading Co.
Al-Omran Industrial Trading Co.’s shareholders approved the board’s recommendation to increase capital by issuing rights shares worth SAR 60 million.
The approval took place during the company’s extraordinary general meeting (EGM) held on Nov. 8, according to a statement to Tadawul.
The company aims to support its plans, reduce the borrowing rate, and develop and modernize the company’s factories.
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Capital Increase Details |
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Current Capital |
SAR 60 mln |
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Current Number of Shares |
6 mln |
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New Capital |
SAR 120 mln |
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New Number of Shares |
12 mln |
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Percentage of Increase |
100% |
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Rights Issue in Details |
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Offered Shares |
6 mln |
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Offering price |
SAR 10 |
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Offering Volume |
SAR 60 mln |
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Entitlement |
Each shareholder will obtain approximately one right for each original share |
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Record Date |
November 8, 2023 (Shareholders of record and those registered with the Securities Depository Center (Edaa) on the second trading day after the EGM. |
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Expected Usage of Rights Issue Proceeds |
Construction costs to build a new factory and transfer the existing machinery and equipment in the refrigeration, shelves, and air conditioning plant |
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28 |
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Costs of purchasing new machinery and equipment |
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11 |
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Factory workers’ accommodation costs |
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2 |
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Repayment of bank loans |
14 |
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Purchase of cars |
2 |
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Offering costs |
3 |
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Total |
60 |
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Additional Information |
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Financial Advisor, Lead Manager & Underwriter |
Alinma Investment |
Thus, Al-Omran rights will be deposited into investor portfolios on Nov. 13, 2023.
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