Logo of Al-Jouf Agricultural Development Co.
Al-Jouf Agricultural Development Co. applied on Sept. 3 to the Capital Market Authority (CMA) to increase its capital through the issuance of new shares, with pre-emptive rights suspended, according to a statement on Tadawul. 
The company said the application seeks to increase its capital from SAR 300 million to SAR 345 million, with pre-emptive rights suspended.
It added that it will announce any further developments in due course.
According to data available with Argaam, Al-Jouf Agricultural said its board of directors recommended last August increasing the company’s capital by issuing 4.5 million new shares.
The new shares will represent 15% of the company’s current capital and 13.04% of post-increase capital.
Almunajem Foods Co. will fully subscribe to the new shares.
Capital Hike Details
Issuer
Al-Jouf Agricultural
Subscriber
Almunajem Foods
Agreement
Subscription agreement for capital increase with suspension of pre-emption rights
Current Capital
SAR 300 mln
New Capital
SAR 345 mln
Increase Value
SAR 45 mln
Increase Percentage
15%
No. of New Shares
4.5 million
Par Value Per Share
SAR 10
Book Value Per Share
SAR 52.5
Total Subscription Amount
SAR 236.25 million
Subscription Mechanism
Almunajem Foods will fully subscribe to the new shares
Approvals Required
CMA Tadawul
Logo of Al-Jouf Agricultural Development Co.
Al-Jouf Agricultural Development Co. applied on Sept. 3 to the Capital Market Authority (CMA) to increase its capital through the issuance of new shares, with pre-emptive rights suspended, according to a statement on Tadawul.
The company said the application seeks to increase its capital from SAR 300 million to SAR 345 million, with pre-emptive rights suspended.
It added that it will announce any further developments in due course.
According to data available with Argaam, Al-Jouf Agricultural said its board of directors recommended last August increasing the company’s capital by issuing 4.5 million new shares.
The new shares will represent 15% of the company’s current capital and 13.04% of post-increase capital.
Almunajem Foods Co. will fully subscribe to the new shares.
Capital Hike Details
Issuer
Al-Jouf Agricultural
Subscriber
Almunajem Foods
Agreement
Subscription agreement for capital increase with suspension of pre-emption rights
Current Capital
SAR 300 mln
New Capital
SAR 345 mln
Increase Value
SAR 45 mln
Increase Percentage
15%
No. of New Shares
4.5 million
Par Value Per Share
SAR 10
Book Value Per Share
SAR 52.5
Total Subscription Amount
SAR 236.25 million
Subscription Mechanism
Almunajem Foods will fully subscribe to the new shares
Approvals Required
CMA Tadawul
