Shams rights trading period closes today

Logo of Tourism Enterprise Co. 

Tourism Enterprise Co.’s (Shams) rights trading period will end today, Dec. 4, to increase capital to SAR 578.24 million from SAR 52.57 million, according to a statement to Tadawul.

 

Subscription and rights trading period began on Nov. 27. Subscription to the new shares will close on Dec. 7.

 

The company intends to offer 52.57 million shares at SAR 10 each, granting each registered shareholder nearly 10 rights for every share held on the record date.

 

Rights issue holders are allowed to exercise their right to subscribe to new shares (in full or in part) up to the number of shares available in their portfolios.

 

Capital Increase Details

Current capital

SAR 52.57 mln

Number of shares

5.26 mln

Capital increase (%)

1,000% (10 rights for every share held)

Capital after increase

SAR 578.24 mln

Number of shares after increase

57.82 mln
 

Rights Issue Details

Number of shares offered

52.57 mln

Offer price

SAR 10

Size of issue

SAR 525.67 mln

Eligibility ratio

Each shareholder on record will be granted 10 rights for every share held

Record date

Nov. 20, 2022

Rights issue proceeds

Acquiring hotels

SAR 505.37 mln

Offering fees

SAR 20.3 mln

Total

SAR 525.67 mln
 
 

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