The Saudi Stock Exchange (Tadawul)-listed Ayyan Investment Company has announced that its fresh share offering subscription will open the following week.
Through a rights issue, the business hopes to raise SAR 200 million ($53.3 million) in capital, offering 20 million shares at a price of SAR 10. This amounts to 24.8% of the capital of the business.
The subscription period will run, as per the company’s filing with Tadawul. As stated in the company’s prospectus, all holders of priority rights, including new and registered shareholders, may subscribe for the additional shares during this time.
The capital raise, which would increase the company’s capital from SAR 806.36 million to SAR 1 billion, was previously approved by shareholders. As a result, there will be 100.63 million shares instead of 80.63 million.
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Ayyan Investment’s dedication to strengthening its financial foundation in the face of shifting market conditions is demonstrated by this strategic endeavour. The purpose of the company’s issuance of these extra shares is to improve liquidity and finance its planned future growth.
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Both stakeholders and investors are closely monitoring this development in order to predict how it will affect the company’s financial stability and market position going forward.
About Ayyan Investment
Ayyan Investment develops industrial projects, owns and invests in real estate, builds cold stores, transportation fleets, fuel stations, maintains them, and manages industrial, commercial, and residential zones.
