Bahri announces its capital raise prospectus

26/05/2014 Argaam

The National Shipping Company of Saudi Arabia (Bahri) announced its capital raise prospectus for an intended merger with Vela International Marine Limited Company.
 

The Capital Market Authority has recently approved the capital raise Prospectus related to Bahri’s capital raise from SAR 3.15bn to SAR 3.94bn for an intended merger with Vela International Marine Limited Company; according to data compiled by Argaam.

 

Major Shareholders after IPO

Stake %

Number of shares
(million)

Shareholders

22.55%

88.08

Public Investment Fund

20.0%

78.75

Saudi ARAMCO Developmet Co.

55.41%

218.16

Public shareholders

2.04%

8.03

Board members and CEOs

100%

393.75

Total

 

 

Capital raise details

m3150 SAR

Current Capital

m shares315

Current No. of shares

m Shares78.75

No. of new shares issued

22.25 SAR

Issuing price per share

m1752.2 SAR

Total value of shares issued

m787.5 SAR

Nominal value of the capital raise

m3937.5 SAR

New capital

m shares393.75

No. of shares after capital raise

25% of the company’s capital before the capital raise

Capital raise %

SAR 4875m (1752.2 in shares to Vela and the remaining amount is to be paid in cash).

Deal value

 

 

 

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