SVCP issues prospectus for rights offering

Logo of Saudi Vitrified Clay Pipes Co. (SVCP)

Saudi Vitrified Clay Pipes Co. (SVCP) announced the prospectus for its capital increase through a SAR 80 million rights offering.
 

The company plans to offer about eight million shares at SAR 10 each, to increase capital by 53.33% from SAR 150 million to SAR 230 million.

 

Following the capital hike, the company aims to finance expanding its subsidiaries through the purchase of machinery and equipment, equipping additional buildings and hangars, providing working capital, repaying financial obligations and loans, allocating an amount to support future activity, finance acquisition or expansion opportunities, and cover the offering costs.

 

The Capital Market Authority (CMA) approved in April the company’s request to increase capital, Argaam data showed.

 

Shareholders will vote the capital hike during an extraordinary general meeting scheduled for June 14, 2026.

 

Capital Increase Details

Current Capital

SAR 150 mln

Number of Shares

15 mln

New Capital

SAR 230 mln

New Number of Shares

23 mln

Percentage of Increase

53.33%

Par Value

SAR 10
 

Rights Issue Details

Offered shares

8 mln shares

Offering Price

SAR 10

Issue Size

SAR 80 mln

Eligibility Ratio

Each eligible shareholder shall have the right to subscribe to 0.533 shares per each owned share.

Rights issue proceeds (SAR mln)

Repayment of financial obligations and loans

33.75

Purchase of machinery and equipment for Laffan Pipes

15.00

Support future activity, acquisition or expansion opportunities

8.25

Purchase of machinery and equipment for Saudi Land Cement Products Factory

8.00

Working capital for Laffan Pipes

3.80

Preparation of additional buildings and hangars for Saudi Land Cement Products Factory

2.00

Offering expenses 

9.20

Total

80.00
 

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