Tihama Advertising and Public Relations Co. will launch today, July 20, the subscription to new shares and rights trading to increase its capital from SAR 75 million to SAR 175 million.
Rights trading will end on Monday, July 27, while the subscription to new shares will close on August 6.
On July 15, Tihama’s shareholders approved a capital increase through a SAR 100 million rights issue.
Tihama will offer 10 million shares at SAR 10 each. Shareholders of record are entitled to receive 1.33 rights for every share held.
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Key Figures of the Capital Hike |
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Current capital |
SAR 75 mln |
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Number of shares |
7.5 mln shares |
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Hike (%) |
133.33% |
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New capital |
SAR 175 mln |
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New shares |
17.5 mln shares |
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Rights Issue Details |
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Number of rights issue shares |
10.0 mln shares |
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Issue price |
SAR 10/share |
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Issue size |
SAR 100 mln |
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Record date |
(July 15, registered shareholders on the second day following this date) |
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Rights coefficient |
Each shareholder is entitled to 1.33 rights for every share held | |
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Start of right issue trading and subscription period |
July 20, 2020 |
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End of rights issue trading |
July 27, 2020 |
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End of trading new shares subscription period |
August 6, 2020 |
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Use of Proceeds |
To support expansions in business activities. |
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Additional Information |
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Financial advisor, Lead manager and Underwriter |
Falcom |
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Rights holders are entitled to subscribe to the new shares partially or fully pro rata. The remaining shares will be reoffered to institutional investors.
In case of under subscription, the financial advisor, lead manager and underwriter, Falcom Financial Services will subscribe to these rights.
Investors, who are not willing to subscribe, should sell their rights during the trading period, the statement added.
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