Saudi Fisheries Co.’s (Alasmak) rights trading period ends today, June 15, 2020.
Rights trading started on June 8, to increase the company’s capital from SAR 101.1 million to SAR 400 million, through a rights issue of 29.89 million shares at SAR 10 per share.
Rights issue subscription period, which also started on June 8, will end on June 18, 2020.
Rights holders are entitled to subscribe to the new shares partially or fully pro rata. The remaining shares will be reoffered to institutional investors.
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Key Figures of the Capital Hike |
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Current Capital |
SAR 101.1 mln |
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Number of shares |
10.1 mln |
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Hike % |
295.7% |
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New Capital |
SAR 400 mln |
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New number of shares |
40 mln |
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Key Figures of the Rights Issue |
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Number of rights issue shares |
29.89 mln |
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Offering price |
SAR 10 |
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Offering size |
SAR 298.9 mln |
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Beginning of rights issue trading period and new shares subscription |
June 8, 2020 |
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End of rights issue trading period |
June 15, 2020 |
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End of new shares subscription period |
June 18, 2020 |
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Record date |
May 14, 2020 (including those registered at the Securities Depository Center two business days following this date) |
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Use of rights issue proceeds |
Financing restructuring plan and projects operations, covering establishing costs, working capital and loan repayment. |
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Additional Information |
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Financial Advisor, lead manager and underwriter |
Falcom Financial Services |
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