Saudi Arabian Amiantit Co. rights trading period ends today, Dec. 14, 2020.
Rights trading started on Dec. 7, to increase the company’s capital from SAR 200 million to SAR 320 million, through a rights issue of 12 million shares at SAR 10 each.
Rights issue subscription period also started on Dec. 7 and will end on Dec. 17, 2020.
Rights holders are entitled to subscribe to the new shares partially or fully on a pro rata basis.
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Key Figures of the Capital Hike |
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Current capital |
SAR 200 mln |
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Number of shares |
20 mln shares |
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Hike (%) |
60% |
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New capital |
SAR 320 mln |
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New shares |
32 mln shares |
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Rights Issue Details |
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Number of rights issue shares |
12 mln shares |
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Issue price |
SAR 10 |
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Issue size |
SAR 120 mln |
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Right issue trading period |
Dec. 7-14, 2020 |
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Subscription period |
Dec. 7-17, 2020 |
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Record date |
Shareholders registered at the Securities Depository Center (Edaa) on the second trading day following the general meeting date. |
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Use of Proceeds |
To finance the working capital, repay the dues of suppliers, and bank payments. |
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