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Saudi Paper Manufacturing Co.’s (SPM) rights issue subscription will end today, Dec. 24, 2020.
Subscription to new shares and rights trading began on Dec. 14, to increase capital from SAR 92 million to SAR 192 million.
Rights trading ended on Monday, Dec. 21.
Last week, the Securities Depository Center Co. (Edaa) deposited Saudi Paper’s tradable rights into the accounts of eligible securities’ holders, Argaam reported.
Shareholders approved the board of directors’ recommendation to increase the company’s capital through a SAR 100 million rights issue.
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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 issue trading |
Dec. 14-21, 2020 |
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Rights issue subscription |
Dec. 14 - 24, 2020 |
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Use of proceeds |
To purchase raw materials, mainly tree pulp to feed the company's production lines, rebuild assets to improve production quality, purchase equipment to boost |
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