Sadr Logistics issues prospectus for SAR 150 mln rights issue

Logo of Sadr Logistics Co.

Sadr Logistics Co. announced the prospectus for its capital increase through offering rights issue shares worth SAR 150 million.

Capital will be increased to SAR 175 million, through offering 15 million rights issue shares at a nominal value of SAR 10 each.

The Capital Market Authority (CMA) approved on Nov. 2 the company's request to increase its capital through a SAR 150 million rights issue. An extraordinary general meeting (EGM) will be held later on to vote on the capital hike.

Capital Hike Details
Current Capital	SAR 25 mln
Number of shares	2.5 mln
Capital hike%	600%
Capital after increase	SAR 175 mln
Number of shares after increase	17.5 mln shares

Rights Issue Details
Number of rights shares	15 mln
Offering price per share	SAR 10
Size of issue	SAR 150 mln
Eligibility Ratio	Each listed shareholder shall have the right to subscribe to six shares per each owned share.
Record date	Shareholders of record by the close of trading on the second day following the EGM date
Rights issue proceeds	Investment in logistics (transportation and storage for others)	SAR 128.5 mln
	Development of operational sectors (machinery, equipment, and fixtures)	SAR 18.0 mln
	Issue costs	SAR 3.5 mln

For More IPOs

Rights Issue Prospectus

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