Al-Omran starts rights trading, subscription to new shares today

Logo of Al-Omran Industries and Trading Co.

Al-Omran Industries and Trading Co. starts today, Nov. 14, the subscription to new shares and rights trading to increase its capital from SAR 60 million to SAR 120 million.

Rights trading will end on Nov. 21, while subscription to the new shares will close on Nov. 26.

The company plans to offer six million shares at a nominal value of SAR 10 each to increase capital by 100%. Each shareholder will be granted one right for each share held.

Capital Increase Details
Current capital	SAR 60 mln
Current number of shares	6 mln
Capital increase (%)	100%
Capital after increase	SAR 120 mln
Number of shares after increase	12 mln

Rights Issue Details
Offered shares	6 mln
Offer price	SAR 10
Issue size	SAR 60 mln
Rights subscription	Nov. 14-26, 2023
Rights trading	Nov. 14-21, 2023
Reason	Supporting future plans, cutting borrowing rate and developing the company’s plants
Record date	Nov. 8, 2023
Eligibility ratio	Each shareholder will be granted one right for every share held
Rights issue proceeds	Construction costs to build a new factory and transfer the existing machinery and equipment in the refrigeration, shelves, and air conditioning plant	SAR 28 mln
	Costs of purchasing new machinery and equipment	SAR 11 mln
	Factory workers’ accommodation costs	SAR 2 mln
	Repayment of bank loans	SAR 14 mln
	Purchase of cars	SAR 2 mln
	Offering fees	SAR 3 mln
	Total	SAR 60 mln

Rights issue holders are allowed to exercise their right to subscribe to new shares (in full or in part) up to the number of shares available in their portfolios. Rights trading and subscription to new shares for registered shareholders and new investors will be as per the prospectus.

Unsubscribed shares, if any, will be offered to institutional investors, according to the prospectus. The underwriter will underwrite the rights if the subscription process is not fully covered.

Investors not willing to subscribe must sell the rights during the specified trading period to avoid any decline in the value of their investment portfolios as a result of not selling or subscribing, the company said.

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