Saudi Paper rights trading period ends today

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.

Key Figures of the Capital Hike
Current Capital		SAR 92 mln
Number of shares		9.2 mln shares
Hike (%)		108.7%
New capital		SAR 192 mln
Number of shares after increase		19.2 mln
Key Figures of the Rights Issue
Number of rights issue shares	10 mln shares
Issue price	SAR 10
Issue size	SAR 100 mln
Record date	By the close of the second trading day after the extraordinary general meeting date
Rights Trading	Dec. 14- 21, 2020
Subscription Period	Dec. 14-24, 2020
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 production and repay part of the bank facilities

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Saudi Paper rights trading, subscription period begins today

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