Saudi Paper Manufacturing Co. (SPM) rights trading period ends tomorrow, Dec. 21, 2020.
Rights trading started on Dec. 14, to increase the company’s capital from SAR 92 million to SAR 192 million, through a SAR 100 million rights issue.
Rights issue subscription period also started on Dec. 14 and will end on Dec. 24, 2020.
Rights holders are entitled to subscribe to the new shares partially or fully on a pro rata basis.
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Key Figures of the Capital Hike |
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Current Capital |
SAR 92 mln |
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Number of shares |
9.2 mln shares |
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Hike (%) |
108.7% |
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New capital |
SAR 192 mln |
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Number of shares after increase |
19.2 mln |
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Key Figures of the Rights Issue |
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Number of rights issue shares |
10 mln shares |
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Issue price |
SAR 10 |
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Issue size |
SAR 100 mln |
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Record date |
By the close of the second trading day after the extraordinary general meeting date. |
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Start of rights issue trading |
Dec. 14, 2020 |
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End of rights issue trading |
Dec. 21, 2020 |
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Start of subscription to new shares |
Dec. 14, 2020 |
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End of subscription to new shares |
Dec. 24, 2020 |
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Use of proceeds |
To purchase raw materials, mainly tree pulp to feed the company's production lines, rebuild assets to improve production quality, purchase equipment to boost |
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