Logo of Batic Investments and Logistics Co.

Batic Investments and Logistics Co. issued the prospectus for its capital increase through rights issue as it plans to issue 30 million ordinary shares at SAR 10 per share.

 

On Nov. 2, the Capital Market Authority (CMA) approved the company’s request to increase capital from SAR 300 million to SAR 600 million through rights issue, according to data available with Argaam.

 

The company invited its shareholders to vote on the process in an extraordinary general assembly meeting (EGM), which will be held on Dec. 6.

 

Rights issue proceeds are intended to go towards financing the company, implementing its future plans, expanding various activities and increasing the size of domestic investments, and adapting its growth plan to the renaissance and economic changes taking place in Saudi Arabia in line with the Vision 2030.

 

It also aims to acquire profitable assets and buy or invest in companies and income-generating assets.

 

Capital Increase Details

Current capital

SAR 300 mln

Number of shares

30 mln shares

Capital increase %

100%

Capital after increase

SAR 600 mln

Number of shares after increase

60 mln shares
 

Rights Issue Details

Number of rights shares

30 mln shares

Offering price per share

SAR 10

Size of issue

SAR 300 mln

Eligibility ratio

Each registered shareholder shall have the right to subscribe to one share per owned share.

Record date

Shareholders of record by the close of trading on the second day following the EGM date

Use of rights issue proceeds

Repayment of part of the bridge loan to Bank AlJazira to acquire 35.8% of Smart Cities Solutions Co.

SAR 107.87 mln

Cost to acquire Smart Cities Solutions Co.

SAR 1.31 mln

Financing Smart Cities Solutions Co. to pay its dues to AMNCO

SAR 20.00 mln

Financing Smart Cities Solutions Co. to pay the remaining rent due to Eastern Region Municipality, related to smart parking project

SAR 24.44 mln

Repayment of short-term loans

SAR 40.00 mln

Financing smart parking projects

SAR 46.20 mln

Supporting working capital of AlShifa Medical Technology Co.

SAR 5.00 mln

Acquiring income-generating assets and businesses

SAR 50.00 mln

Issue costs

SAR 5.18 mln

 

For More IPOs

Rights Issue Prospectus

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