Riyadh – Mubasher: Anaam International Holding Group has announced new details regarding its 600% capital increase that will be carried out via a rights issue.

A total of nine million ordinary shares will be offered at SAR 10 a share through a rights issue valued at SAR 90 million, according to the company’s Prospectus published on the Saudi bourse on Tuesday.

Hence, the firm’s capital will be raised to SAR 105 million from SAR 15 million to finance and implement the company’s future plans and projects.

Eligibility of the rights issue will be to the shareholders at the end of the extraordinary general meeting (EGM) scheduled on 27 October, as per the registered shareholders in the register of the Securities Depository Center Company (Edaa) at the end of the second trading day following the EGM meeting date.

The underwriting proceeds will be used in financing the restructuring of the company’s activities to include logistical services for the food segment, agricultural activities, and investments in income-generating assets.

Moreover, the holding firm will use the offering’s net proceeds, after deducting underwriting expenses, to acquire an income-generating asset.