Saudi Arabian Fertilizer Co. (SAFCO) said that its capital hike circular is available to shareholders on its official website, as well as the Capital Market Authority (CMA) website, according to a bourse statement on Tuesday.
On Oct. 6, 2020, CMA approved SAFCO’s request to increase its capital to SAR 4.76 billion from SAR 4.17 billion through issuing 59.4 million ordinary shares, to acquire 100% of SABIC Agri-Nutrients Investment Co. (SANIC), according to data compiled by Argaam.
|
Acquisition Details |
|
|
Target company |
SANIC |
|
Buyer |
SAFCO |
|
Seller |
SABIC |
|
Acquisition percentage |
100% |
|
Value of the target company |
SAR 4.59 bln (based on the average weighted stock price for 3 months that ended on Dec. 19, 2019). |
|
Value of the listed company (SAFCO) |
SAR 32.23 bln |
|
Current Capital |
SAR 4.17 bln |
|
Number of shares |
416.67 mln |
|
Increase |
SAR 593.69 mln |
|
Hike (%) |
14.25% (by SAR 593.69 mln) |
|
New Capital |
SAR 4.76 bln |
|
New number of shares |
476.04 mln |
|
Ownership percentage of the partners who will get new shares after acquisition |
50.1% |
|
Details of Ownership in SAFCO |
||
|
Shareholders |
Before Capital Hike |
After Capital Hike |
|
SABIC |
42.99% |
50.10% |
|
GOSI |
8.85% |
7.75% |
|
The Public |
48.16% |
42.15% |
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