Zain Saudi rights trading period ends today

Mobile Telecommunication Co. Saudi Arabia (Zain Saudi) rights trading period ends today, Oct. 26, 2020.

Rights trading started on Oct. 19, to increase the company’s capital from SAR 4.48 billion to SAR 8.98 billion, through a rights issue of 450 million shares at SAR 10 per share.

Rights issue subscription period, which also started on Oct. 19, will end on Oct. 29, 2020.

Rights holders are entitled to subscribe to the new shares partially or fully pro rata. The remaining shares will be reoffered to institutional investors.

Capital Hike Details
Current Capital	SAR 4.48 bln
Number of shares	448.7 mln shares
Increase percentage	100.28%
Capital after increase	SAR 8.98 bln
Number of shares after increase	898.7 mln shares
Rights Issue Details
Number of right shares	450 million shares
Offering price per share	SAR 10
Size of issue	SAR 4.50 bln
Record date	Oct. 14, 2020 (Shareholders of record at the Securities Depository Center Co. (Edaa) on Oct. 18, 2020)
Eligibility	1.003 rights for every 1 share held
Date of rights trading and subscription	Oct. 19, 2020
End date of rights trading	Oct. 26, 2020
End date of subscription	Oct. 29, 2020
Purpose of capital hike	Partial repayment of SAR 1.67 bln worth of dues owed to Kuwait’s Zain Group Partial repayment of Murabaha facilities with SAR 2.77 bln Underwriting expenses and fees of SAR 65 mln

Additional Details
Financial advisor	Saudi Fransi Capital, ANB Invest, Al Rajhi Capital
Lead manager	Saudi Fransi Capital
Underwriters	Saudi Fransi Capital, ANB Invest, Al Rajhi Capital, Aljazira Capital, Riyad Capital, Alinma Investment

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