Saudi Cable secures CMA nod for capital hike via bonus issue

Résumé détaillé

Saudi Cable Co. has obtained the approval of the Capital Market Authority (CMA) to increase capital via a rights issue worth SAR 400 million. I ...

Saudi Cable Co. has obtained the approval of the Capital Market Authority (CMA) to increase capital via a rights issue worth SAR 400 million.

In a statement to Tadawul, the regulator said that eligible shareholders are those registered with the Securities Depository Center (Edaa) at the end of the second trading day following the record date, which will be determined later by the company’s board of directors.

The offering price and the number of shares offered for subscription will be determined by the company after market closing of the same day in which the extraordinary general assembly meeting is to be held.

The rights issue prospectus will be posted and made available to the public at a later time.

The CMA's approval of the prospectus should never be considered as a recommendation to participate in the offer nor invest in the company's shares.

Rather, CMA's approval of the prospectus merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met.

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