SIDC sets period for rights trading, new share subscription

Logo of Saudi Industrial Development Co. (SIDC)

Saudi Industrial Development Co. (SIDC) announced setting the period of its rights issue trading and subscription to new shares.
 

The company said the period of its rights issue trading will commence on Nov. 12 and end on Nov. 19, 2025. Meanwhile, the subscription will start on Nov. 12 and run until Nov. 24, 2025.
 

A total of 16.5 million new shares will be offered at SAR 10 each, through a rights issue aimed at increasing the company’s capital by approximately 122.2%, bringing it to SAR 300 million, divided into 30 million shares.
 

According to the final prospectus, eligible shareholders have the right to exercise their rights electronically through the online platforms of their respective brokers.

 

Registered shareholders during the subscription period who are eligible to exercise their priority rights are entitled to subscribe to the new shares granted to them on the eligibility date, as well as any additional rights they have purchased after the completion of the rights purchase transaction (two business days) during the trading period. They also have the option not to take any action regarding the rights they hold.

 

New investors during the subscription period are entitled to exercise the rights they have purchased after the completion of the rights purchase transaction (two business days) during the trading period, by subscribing to the new shares. They also have the option not to take any action regarding the rights they hold.

 

If neither the registered shareholders nor the new investors exercise their rights to subscribe to the new shares during the subscription period, the shares related to those rights will be offered during the rump offering period.

 

According to data available on Argaam, the extraordinary general assembly of SIDC recently approved the board of directors’ recommendation to increase the company’s capital by SAR 165 million through a rights issue.

 

Capital Increase Details

Current Capital

SAR 135 mln

No. of Shares

13.5 mln

Percentage of Increase

122.22%

New Capital

SAR 300 mln

New No. of Shares

30 mln

Reason for Increase

Enable the company to implement its operational plans, support its working capital and enhance its financial position

Increase Date

Nov. 6, 2025 (Shareholders registered with Edaa at the end of the second trading day following the EGM)
 

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 Manager & Underwriter​

Alinma Capital

 

To view Prospectus for the rights issue

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