Saudi Fisheries Co.’s (Alasmak) rights subscription period ends today, June 18, 2020.

 

Rights subscription started on June 8, to increase the company’s capital from SAR 101.1 million to SAR 400 million, through a rights issue of 29.89 million shares at SAR 10 per share.

 

Rights issue trading period, which also started on June 8, ended on June 15, 2020.

 

Key Figures of the Capital Hike

Current Capital

SAR 101.1 mln

Number of shares

10.1 mln

Hike %

295.7%

New Capital

SAR 400 mln

New number of shares

40 mln

Key Figures of the Rights Issue

Number of rights issue shares

29.89 mln

Offering price

SAR 10

Offering size

SAR 298.9 mln

Eligibility

2.957 shares for each share held

Beginning of rights issue trading period and new shares subscription

June 8, 2020

End of rights issue trading period

June 15, 2020

End of new shares subscription period

June 18, 2020

Record date

May 14, 2020 (including those registered at the Securities Depository Center two business days following this date (May 18, 2020))

Use of rights issue proceeds

Financing restructuring plan and projects operations, covering establishing costs, working capital and loan repayment.

Additional Information

Financial Advisor, lead manager and underwriter

Falcom Financial Services

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