Today, Monday, the period for the trading of priority rights and the subscription for new shares to increase the capital of the Saudi Paper Manufacturing Company.
The company announced, earlier, that the rights issue trading period will end on December 21, and that the subscription period for new shares will continue until the 24th of the same month.
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The company is scheduled to offer 10 million shares at a value of 10 riyals per share, raising the company's capital from 92 million riyals to 192 million riyals.
The extraordinary general assembly of the Saudi Paper Manufacturing Company, which held its meeting on Sunday, December 6th, approved the board of directors ’recommendation to increase the capital through a rights issue. / p>
and a capital increase of 108.7% was approved, with the aim of purchasing raw materials to feed the company's production lines, rebuilding the company's assets, and repaying part of the outstanding loans. < / p>
and it will be possible for holders of priority rights to exercise their right to subscribe (in whole or in part) to the new shares within the limits of the number of priority rights in their portfolios, and to trade in pre-emptive rights and subscribe to shares The new will be according to what is specified in the prospectus.
The company pointed out that in the event that shares remain unsubscribed, then those remaining shares and fractional shares (if any) will be offered to investors of an institutional nature according to what is mentioned in Release prospectus.
and she said that the financial advisor and underwriter for the offering process (Wasatah Capital) will undertake to cover the priority rights of the Saudi Paper Manufacturing Company in the event that the entire subscription is not covered.
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