Logo of Etihad Atheeb Telecommunication Co. (GO)
Etihad Atheeb Telecommunication Co. (GO) rights trading period ends today, Feb. 25, according to a statement to Tadawul.
The subscription period started on Feb. 12 to increase the company’s capital from SAR 89.99 million to SAR 339.99 million, through 25 million rights share issue at SAR 10 apiece, totalling SAR 250 million .
The rights trading period ended on Feb. 19.
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Details of Capital Increase |
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Current Capital |
SAR 89.99 mln |
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Current Number of Shares |
8.99 mln |
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Percentage of Increase |
277.78% |
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Capital after Increase |
SAR 339.99 mln |
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Number of Shares |
33.99 mln |
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Rights Issue Details |
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Number of shares offered |
25 mln |
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Offer price |
SAR 10 |
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Size of issue |
SAR 250 mln |
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Subscription Period |
From Feb. 12 to Feb. 25 |
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Rights Trading Period |
From Feb. 12 to Feb. 19 |
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Purpose |
Develop and modernize its business systems and networks and pay some of its obligations. |
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Record Date |
Feb. 6, 2024 |
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Rights Coefficient |
2.7778 right per existing share |
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Uses of offering proceeds (SAR mln)
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Payment of part of the outstanding balances and receivables to one of the company’s main suppliers |
49 |
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Payment of a balance due to the Communications, Space and Technology Commission |
15 |
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Payment of part of the total value related to the settlement agreement with TAWAL Co, |
26 |
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Developing infrastructure by developing networking |
35 |
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Developing microwave technology to support the business sector |
30 |
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Developing and building information centers |
10 |
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Updating basic network equipment |
35 |
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Implementing cyber security systems |
40 |
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Developing Network capacity |
40 |
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Offering costs |
6 |
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Total |
250 |
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Additional Information |
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Financial advisor, book-runner and underwriter |
Alinma Investment |
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