Naseej rights trading, subscription start today

Logo of Naseej International Trading Co.

The rights trading and subscription period for Naseej International Trading Co. begins today, Sept. 1, raising its capital by 150%.

The rights trading will continue until Sept. 8, while the subscription period for the new shares will run until Sept. 13.

The Securities Depository Center Co. (Edaa) added the company’s tradable rights to the accounts of eligible shareholders on Aug. 31.

The company plans to offer 16.35 million shares at SAR 10 each through a rights issue, with total proceeds of SAR 163.46 million. The capital will increase from SAR 108.97 million to SAR 272.43 million.

The capital increase aims to settle financial obligations and support the company’s future growth strategy. The proceeds will primarily be used to repay and settle bank liabilities, invest in the real estate sector, settle amounts due to suppliers and other accrued expenses, and develop a workers’ residential building.

Shareholders approved the rights issue on Aug. 26, 2026. The move forms part of the proposed plan to address the company’s accumulated losses after reaching 50% of its capital to allow the company to continue operating in accordance with Article 132 of the Companies Law.

Rights holders may exercise their subscription rights fully or partially for the new shares, up to the number of rights held in their portfolios. Existing shareholders and new investors may also trade the rights during the specified period.

If any shares remain unsubscribed after the subscription period ends, the remaining shares and any fractional shares will be offered to institutional investors. The underwriter will subscribe to any shares that remain uncovered following the rump offering.