Al Akaria subscription to new shares ends today

Logo of Saudi Real Estate Co. (Al Akaria)

Saudi Real Estate Co.’s (Al Akaria) subscription to new shares will close today, June 9.

Subscription to new shares and rights trading began on May 30, to increase capital by 56.25% to SAR 3.75 billion from SAR 2.4 billion.

The developer intended to offer 135 million shares, at SAR 11.80 each, granting each registered shareholder on the record date 0.5625 rights for every share held.

Al Akaria rights trading period ended on June 6.

Capital Increase Details
Current capital	SAR 2.4 bln
Number of shares	240 mln
Capital increase (%)	56.25%
Capital after increase	SAR 3.75 bln
Number of shares after increase	375 mln

Rights Issue Details
Number of shares offered	135 mln
Offer price	SAR 11.80
Size of issue	SAR 1.593 bln
Eligibility ratio	Each shareholder of record will be granted 0.5625 rights for every share held
Record date	May 18, 2022, including shareholders registered with the Securities Depository Center (Edaa) by the close of trading on the second day after the extraordinary general meeting date
Rights issue proceeds	Financing and implementing the company's plans and future projects, and expanding its various activities, in addition to paying off part of the credit facilities

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Al Akaria rights trading, new shares subscription commence today

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