Logo of AYYAN Investment Co.
AYYAN Investment Co. published today, June 11, the prospectus for its capital increase through a SAR 200 million rights offering.
The rights issue is aimed at enabling the company to implement its operational plans and supporting its working capital.
The company will use the rights issue proceeds to purchase medical devices and equipment for Al Salam Hospital, affiliated with Al Salam Medical Services Co. This is besides settling dues to the suppliers of subsidiaries, Al-Ahsa Medical Services Co. and Al Salam Medical Services, alongside paying obligations for financing entities and outstanding operating expenses (opex) owed by the latter.
The company's shareholders will vote on the board recommendation to raise capital through a SAR 200 million rights offering, during an extraordinary general meeting (EGM) to be held on July 8.
The Capital Market Authority (CMA) approved last month the request AYYAN to top-up capital through a rights issue, as per Argaam's data.
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Capital Hike Details |
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Capital |
SAR 806.36 mln |
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Number of Shares |
80.64 mln |
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New Capital |
SAR 1 bln |
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Number of Shares after Increase |
100.64 mln |
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Capital Increase (%) |
24.80% |
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Rights Issue Details |
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Offered Shares |
20 mln |
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Offer Price |
SAR 10 |
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Issue Size |
SAR 200 mln |
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Eligibility Ratio |
Each listed shareholder shall have the right to subscribe to 0.248 shares per each one held |
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Issue Proceeds |
Purchasing medical devices and equipment for Al Salam Hospital, affiliated with Al Salam Medical Services (a subsidiary) |
20.0 |
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Paying dues to the suppliers of subsidiaries (Al-Ahsa Medical Services and Al Salam Medical Services) |
61.1 |
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Paying obligations owed by Al Salam Medical Services (a subsidiary) to financing parties |
45 |
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Paying Al Salam Medical Services’ outstanding opex |
67.9 |
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Offering costs |
6.0 |
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Total |
200 |
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Additional Information |
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Financial Advisor, Underwriter and Lead Manager |
Alinma Investment |
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