Edaa implements corporate action on SABIC Agri-Nutrients

04/01/2021 Argaam

 Logo of SABIC Agri-Nutrients

The Securities Depository Center Co. (Edaa) implemented the securities quantity increase for SABIC Agri-Nutrients Co. into the accounts of eligible shareholders today, Jan. 4.

 

In November 2020, Saudi Arabian Fertilizer Co. (SAFCO) shareholders approved a 14.25% capital increase to SAR 4.76 billion from SAR 4.17 billion during the extraordinary general meeting.

 

On Jan. 3, 2021, the company announced changing its name to SABIC Agri-Nutrients Co.

 

Acquisition Details

Target company

SANIC

Buyer

SAFCO

Seller

SABIC

Acquisition percentage

100%

Current Capital

SAR 4.17 bln

Number of shares

416.67 mln

Increase

SAR 593.69 mln

Hike (%)

14.25%

New Capital

SAR 4.76 bln

New number of shares

476.04 mln

 

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