Maaden publishes supplemental prospectus for its rights issue
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The Saudi Mining Company (Maaden) published supplemental prospectus for the rights issue of 243.48 million shares at a price of SAR 23 per share to raise the Company’s capital to SAR 11.68 million by 26.3%.
The Company stated that rights issue IPO first tranche will start on Tuesday November 18, 2014 until November 27, 2014, second tranche from November 30, 2014 until December 02, 2014.
The Company clarified the reason for this supplementary prospectus is to amend some information in the prospectus including the amendment of Phosphate article; where the Company produces 1.8 million tons of diammonium phosphate.