Saudi Paper Manufacturing Co. (SPM) rights trading period ends today, Dec. 21, 2020.
Rights trading started on Dec. 14, 2020, to increase the company’s capital to SAR 192 million from SAR 92 million, through a SAR 100 million rights issue.
Rights holders are entitled to subscribe to the new shares partially or fully on a pro rata basis.
On Oct. 6, 2020, the Capital Market Authority (CMA) approved SPM’s request to raise its capital by SAR 100 million, Argaam reported.
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Key Figures of the Capital Hike |
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Current Capital |
SAR 92 mln |
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Number of shares |
9.2 mln shares |
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Hike (%) |
108.7% |
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New capital |
SAR 192 mln |
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Number of shares after increase |
19.2 mln |
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Key Figures of the Rights Issue |
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Number of rights issue shares |
10 mln shares |
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Issue price |
SAR 10 |
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Issue size |
SAR 100 mln |
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Record date |
By the close of the second trading day after the extraordinary general meeting date |
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Rights Trading |
Dec. 14- 21, 2020 |
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Subscription Period |
Dec. 14-24, 2020 |
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Use of proceeds |
To purchase raw materials, mainly tree pulp, for the company's production lines; rebuild assets to improve production quality; purchase equipment to boost |
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