Logo of Al-Omran Industries and Trading Co.
Subscription to Al-Omran Industrial Trading Co.’s rights issue ends today, Nov. 26.
The subscription period began on Nov. 14, to increase the company's capital from SAR 60 million to SAR 120 million by issuing 6 million shares at SAR 10 each for a total value of SAR 60 million.
Rights trading ended on Nov. 21
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Capital Increase Details |
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Current Capital |
SAR 60 mln |
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Current Number of Shares |
6 mln |
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New Capital |
SAR 120 mln |
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New Number of Shares |
12 mln |
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Percentage of Increase |
100% |
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Rights Issue Details |
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Offered Shares |
6 mln |
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Offering Price |
SAR 10 |
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Offering Volume |
SAR 60 mln |
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Rights Issue Subscription Period |
Nov. 14 to Nov. 26, 2023 |
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Rights Issue Trading Period |
Nov. 14 to Nov. 21, 2023 |
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Reason |
Support the company’s future plans, reduce loan rate, and modernize the company’s plants |
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Eligibility |
Each shareholder will obtain approximately one right per share |
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Record Date |
Nov.8, 2023 |
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Expected Usage of Rights Issue Proceeds |
Construction costs to build a new factory and transfer the existing machinery and equipment in the refrigeration, shelves, and air conditioning plant |
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28 |
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Costs of purchasing new machinery and equipment |
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11 |
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Factory workers’ accommodation costs |
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2 |
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Repayment of bank loans |
14 |
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Purchase of cars |
2 |
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Offering costs |
3 |
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Total |
60 |
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