Sadr Logistics issues prospectus for SAR 150 mln rights issue

10/11/2021 Argaam

Logo of Sadr Logistics Co.

Sadr Logistics Co. announced the prospectus for its capital increase through offering rights issue shares worth SAR 150 million.

 

Capital will be increased to SAR 175 million, through offering 15 million rights issue shares at a nominal value of SAR 10 each.

 

The Capital Market Authority (CMA) approved on Nov. 2 the company's request to increase its capital through a SAR 150 million rights issue. An extraordinary general meeting (EGM) will be held later on to vote on the capital hike.

 

Capital Hike Details

Current Capital

SAR 25 mln

Number of shares

2.5 mln

Capital hike%

600%

Capital after increase

SAR 175 mln

Number of shares after increase

17.5 mln shares
 

Rights Issue Details

Number of rights shares

15 mln

Offering price per share

SAR 10

Size of issue

SAR 150 mln

Eligibility Ratio

Each listed shareholder shall have the right to subscribe to six shares per each owned share.

Record date

Shareholders of record by the close of trading on the second day following the EGM date

Rights issue proceeds

Investment in logistics (transportation and storage for others)

SAR 128.5 mln

Development of operational sectors (machinery, equipment, and fixtures)

SAR 18.0 mln

Issue costs

SAR 3.5 mln

 

For More IPOs

Rights Issue Prospectus

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