Naseej’s shareholders to vote on capital hike via SAR 163.5 mln rights issue on Dec. 10

13/11/2023 Argaam

Naseej’s shareholders to vote on capital hike via SAR 163.5 mln rights issue on Dec. 10

Logo of Naseej International Trading Co.

Shareholders of Naseej International Trading Co. will vote on increasing the company’s capital through a SAR 163.5 million rights issue during an extraordinary general meeting (EGM) scheduled for Dec. 10.

 

Capital Hike Highlights

Current Capital*

SAR 108.97 mln

Current Number of Shares*

10.90 mln

Capital Hike (%)

150%

Capital after Increase

SAR 272.43 mln

Number of Shares after Increase

27.24 mln

Reason

To reduce borrowing rates, finance working capital, and support the company's transformation plan to operate through strategic units

Method

Issue 16.35 mln shares, equivalent to 1.5 shares for each share

Eligibility

Dec. 10, 2023 (Shareholders registered with the Securities Depository Center Co. (Edaa) at the end of the second trading day following the EGM date.
 

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