صدق تُعلن نشرة الإصدار الخاصة بطرح أسهم حقوق أولوية

SIDC, through the SAR 165 mln rights issue, plans to increase capital from SAR 135 mln to SAR 300 mln

Saudi Industrial Development Co. (SIDC) announced the prospectus for its capital increase through a SAR 165 million rights offering.

 

The company plans to offer about 16.5 million shares at SAR 10 each, to increase capital by 122.22% from SAR 135 million to SAR 300 million.

 

The planned capital hike is set to enable the company to implement its operational plans, support its working capital, and strengthen its financial position.

 

The Capital Market Authority (CMA) approved in August SIDC’s capital top-up request through a SAR 165 million rights issue, as per Argaam's data.

 

The company's shareholders will vote on the proposed 122.22% capital hike during an extraordinary general meeting (EGM) to be held on Nov. 6.

 

Capital Increase Details

Current Capital

SAR 135 mln

Number of Shares

13.5 mln

New Capital

SAR 300 mln

New Number of Shares

30 mln

Percentage of Increase

122.22%

Par Value

SAR 10
 

Rights Issue Details

Offered Shares

16.5 mln

Offering Price

SAR 10

Issue Size

SAR 165 mln

Eligibility Ratio

Each eligible shareholder will have the right to subscribe to 1.222 shares per each owned share

Issue Proceeds

Financing working capital

73.00

Launching the new identity stores “Sleep High”

40.00

Repaying some credit facilities

22.00

Automating production lines

20.00

Implementing the enterprise resource planning (ERP) system

4.00

Offering expenses 

6.00

Total

165.00
 

Additional Information

Financial Advisor, Lead Arranger & Underwriter

Alinma Capital

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