GO shareholders to vote on capital hike via SAR 250M rights issue on Feb. 6

15/01/2024 Argaam
Logo ofEtihad Atheeb Telecommunication Co. (GO)

Logo of Etihad Atheeb Telecommunication Co. (GO)

Etihad Atheeb Telecommunication Co.'s (GO) shareholders will vote on increasing capital through a SAR 250 million rights offering, during an extraordinary general meeting (EGM) to be held on Feb. 6, the company said in a statement to Tadawul.

 

Capital Increase Details

Current Capital  

SAR 89.99 mln

Number of Shares

8.99 mln

Percentage Increase

277.78% (2.7778 rights for every 1 share)

New Capital

SAR 339.99 mln

New Number of Shares

33.99 mln

Method

Issuance of rights shares worth SAR 250 mln

Purpose of Capital Hike

To develop and modernize the company's business systems and networks as well as repay some of its obligations

Eligibility

To shareholders who are registered with the Securities Depository Center (Edaa) by the close of trading on the second trading day after the EGM date
 

In March 2023, the company's shareholders disapproved of increasing capital through a SAR 250 million rights offering to raise capital to SAR 340 million, according to Argaam's data.

 

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