- Ayyan Investment Company plans to raise SAR 200 million ($53.3 million) through a rights issue, offering 20 million shares at SAR 10 each to strengthen its capital base.
- The rights issue follows shareholder approval to increase Ayyan Investment’s capital from SAR 806.36 million to SAR 1 billion, expanding total shares from 80.63 million to 100.63 million.
- This strategic move is designed to bolster liquidity and support future growth initiatives amid evolving market dynamics.
- Investors and stakeholders are closely watching how this initiative will impact Ayyan Investment’s market position and financial stability.
Ayyan Investment Company is a prominent entity listed on the Saudi Stock Exchange (Tadawul). The company announced its upcoming rights issue to bolster its capital by SAR 200 million ($53.3 million).
Starting next week, the company will initiate a subscription period for its new share offering, aiming to raise SAR 200 million ($53.3 million) through the issuance of 20 million shares at SAR 10 per share. This move represents 24.8% of its current capital.
The subscription period for this rights issue is slated to commence on July 14 and will run through July 24. According to the company’s prospectus, existing shareholders and new investors holding priority rights can participate during this period.
Previously, shareholders of Ayyan Investment had greenlit the plan to increase its capital from SAR 806.36 million to SAR 1 billion. Following the rights issue, the company’s total shares will rise to 100.63 million, up from the current 80.63 million.
This strategic initiative underscores Ayyan Investment’s commitment to fortifying its financial base amidst dynamic market conditions. By offering these additional shares, the company seeks to enhance liquidity and support its future growth initiatives.
Investors and stakeholders alike are keenly observing this development, anticipating its impact on the company’s market position and financial stability in the foreseeable future.
Key Details
- Issuer: Ayyan Investment Company
- Offering: SAR 200 million ($53.3 million) via rights issue
- Shares Offered: 20 million shares at SAR 10 per share
- Subscription Period: July 14 to July 24
Follow us on Instagram, LinkedIn, and Twitter for startup & business news and inspiring stories of MENA businesses, entrepreneurs, startups, innovators, investors, and change-makers.
To report any issue or error in the story, please email us editor [at] rasmal [dot] com.
Last Updated on July 11, 2024 by Safiya K
