SIECO issues prospectus for SAR 172.8 mln rights issue

Logo of Saudi Industrial Export Co. (SIECO)

Saudi Industrial Export Co. (SIECO) announced today the prospectus for its capital increase through offering rights issue shares worth SAR 172.8 million.

Capital will be increased to SAR 194.40 million, through offering 17.28 million rights issue shares at a nominal value of SAR 10 each.

The capital hike is aimed to boost the company's solvency and strategic expansion.

The Capital Market Authority (CMA) approved in March the request received from the company to increase capital through SAR 172.8 million rights issue, as per Argaam's data.

Capital Hike Details
Current Capital	SAR 21.60 mln
Number of shares	2.16 mln shares
Capital hike%	800%
Capital after increase	SAR 194.40 mln
Number of shares after increase	19.44 mln shares

Rights Issue Details
Number of Shares Offered	17.28 mln shares
Offer price	SAR 10
Size of issue	SAR 172.80 mln
Eligibility Ratio	Each listed shareholder shall have the right to subscribe to 8 shares per each owned share.
Record date	The increase will be limited to the shareholders who are registered in the Securities Depository Center (Edaa) by the close of trading on the second trading day after the extraordinary general meeting (EGM).
Rights issue proceeds	Logistic operations	SAR 67.48 mln
	Geographic expansion	SAR 43.39 mln
	Funding supply contracts	SAR 42.52 mln
	Digitization	SAR 14.41 mln
	Payment of the Offering fees and costs	SAR 5 mln

For More IPOs

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Comments {{getCommentCount()}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}}

Popular Links

Quick Links

About Us

Join Us

Follow Us