Anaam International Holding Group's subscription to new shares and rights trading begins today, Nov. 2, to increase capital from SAR 15 million to SAR 105 million.
Rights trading will end on Monday, Nov. 9, while the subscription to new shares will close on Thursday, Nov. 12.
Rights holders are entitled to subscribe to the new shares partially or fully on a pro rata basis. Unsubscribed shares, and share fractions, will be offered to institutional investors.
In case of under subscription, lead manager and underwriter Wasatah Capital will subscribe to these rights.
The Securities Depository Center Co. (Edaa) deposited, on Nov. 1, Anaam’s tradable rights into the accounts of eligible securities’ holders, Argaam reported.
The company’s shareholders approved, on Oct. 27, the board of directors’ recommendation to increase capital from SAR 15 million to SAR 105 million through a SAR 90 million rights issue.
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Key Figures of the Capital Hike |
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Current capital |
SAR 15 mln |
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Number of shares |
1.5 mln shares |
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Hike (%) |
600% |
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New capital |
SAR 105 mln |
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New shares |
10.5 mln shares |
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Rights Issue Details |
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Number of rights issue shares |
9 mln shares |
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Issue price |
SAR 10/share |
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Issue size |
SAR 90 mln |
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Record date |
Oct. 27, 2020 (Registered shareholders on |
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Rights coefficient |
Each shareholder is entitled to six rights for every share held |
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Start of right issue trading and subscription period |
Nov. 2, 2020 |
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End of rights issue trading |
Nov. 9, 2020 |
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End of subscription period |
Nov. 12, 2020 |
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Use of Proceeds |
To finance future plans and expansions |
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