Saudi Printing publishes shareholders’ circular on capital hike

Saudi Printing and Packaging Co. announced published shareholders’ circular related to increasing the company’s capital through the conversion of the remaining outstanding debt owed to Alinma Bank.

The capital increase will be carried out through the issuance of new shares to Alinma Bank and Alinma Capital, with a total value of SAR 178.2 million, representing the principal amount and accrued profits up to Dec. 31, 2024.

The settlement will be executed through the ownership transfer of two land plots with a total market value of SAR 110 million. In addition, the company will issue new shares to the creditors with an issue value of SAR 73.7 million. A total of 2.6 million shares will be issued to Alinma Bank, and 2.6 million shares will be issued to Alinma Capital.

The issuance will be in consideration for settling the remaining balance of the Alinma Bank loan, subject to obtaining regulatory approvals and shareholders’ approval.

The new shares will be issued to Alinma Bank and Alinma Capital at the value of the outstanding debt, with the number of shares calculated based on the agreed price of SAR 14.15 per share between the company and Alinma Bank.

Following the capital increase, the creditors’ combined ownership will amount to 8% of the company’s share capital (4% for Alinma Bank and 4% for Alinma Capital).

The Capital Market Authority approved, on Dec. 30, the company’s request to increase its capital through the conversion of debt amounting to SAR 73.68 million.