Al-Omran issues prospectus for capital hike via SAR 60 mln rights issue

Logo of Al-Omran Industrial Trading Co.

Al-Omran Industrial Trading Co. announced today, Oct. 16, the prospectus for its capital increase through a SAR 60 million rights offering.

The company will offer six million shares, at SAR 10 each, to increase capital by 100% to SAR 120 million.

According to the prospectus, the company, through this capital hike, aims to support its future plans, reduce borrowing, as well as upgrade and renovate its plants.

The company's shareholders will vote on the board's recommendation to increase capital via a rights offering during an extraordinary general meeting, scheduled for Nov. 8.

The Capital Market Authority (CMA) approved, on Sept. 10, Al-Omran’s application to raise capital through a rights issue, Argaam earlier reported.

Capital Increase Details
Current Capital	SAR 60 mln
Noumber of shares	6 mln
New Capital	SAR 120 mln
New Number of Shares	12 mln
Percentage Increase	100%

Rights Issue Details
Offered Shares	6 mln
Offer Price	SAR 10
Size of issue	SAR 60 mln
Rights Coefficient	Each registered shareholder will have nearly one right for each share owned.
Expected Usage of Rights Issue Proceeds	Construction costs to build a new factory and transfer the existing machinery and equipment in the refrigeration, shelves and air conditioners plant	28
	Costs of purchasing new machinery and equipment	11
	Factory workers’ accommodation costs	2
	Repayment of bank loans	14
	Purchase of cars	2
	Offering costs	3
	Total	60

Additional Information
Financial Advisor, Lead Manager & Underwriter	Alinma Investment

For More IPOs

Rights Shares Issue Prospectus

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