Logo of Abdulmohsen Alhokair Group for Tourism and Development

Abdulmohsen Alhokair Group for Tourism and Development’s (Alhokair Group) rights trading period ends today, Aug. 2.

 

Rights trading started on July 26, to increase the company’s capital from SAR 343 million to SAR 650 million, through a rights issue of 30.7 million shares at SAR 10 per share.

 

Rights issue subscription period, which also started on July 26, will end on Aug. 5.

 

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

 

Key Figures of the Capital Increase via Rights Issue

Capital Before Increase

SAR 343 mln

Number of Shares

34.3 mln

Increase (%)

89.5%

New Capital

SAR 650 mln

New Number of Shares

          65 mln

 

Key Figures of Rights Issue

Number of Offered Shares

30.7 mln 

Offering Price

SAR 10

Issue Size

SAR 307 mln

Rights trading period

From July 26 to Aug. 2

Subscription period

From July 26 to Aug. 5

Use of proceeds

Repayment of bank loans

SAR 80 mln

Renovation of a number of hotels as well as entertainment and commercial facilities

SAR 110 mln

Financing cinema screens and sports centers (SAR 45 million)

SAR 45 mln

Financing working capital (SAR 66.2 million)

SAR 66.2 mln

 

Offering costs

SAR 5.8 mln

 

Total

SAR 307 mln
 

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