Saudi Arabian Amiantit Co. rights subscription period ends today, Dec. 17, 2020.

 

The subscription period started on Dec. 7, to increase the company’s capital from SAR 200 million to SAR 320 million through a rights issue of 12 million shares at SAR 10 per share.

 

Rights trading period, which also started on Dec. 7, ended on Dec. 14, 2020.

 

Key Figures of the Capital Hike

Current capital

SAR 200 mln

Number of shares

20 mln shares

Hike (%)

60%

New capital

SAR 320 mln

New shares

32 mln shares

Rights Issue Details

Number of rights issue shares

12 mln shares

Issue price

SAR 10

Issue size

SAR 120 mln

Right issue trading period

Dec. 7-14, 2020

Subscription period

Dec. 7-17, 2020

Record date

Shareholders registered at the Securities Depository Center (Edaa) on the second trading day following the general meeting date.

Use of Proceeds

To finance the working capital, repay the dues of suppliers, and bank payments.

 

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Amiantit rights trading, subscription to new shares begins today

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