Logo ofAl Masane Al Kobra Mining Co. (AMAK)
The Capital Market Authority (CMA) approved Al Masane Al Kobra Mining Co.’s (AMAK) request to increase its capital by SAR 680 million through a rights issue. 
Eligibility will be granted to shareholders registered in the issuer’s shareholder registry at the Securities Depository Center Co. (Edaa) at the end of the second trading day following the date of the extraordinary general meeting (EGM) that approves the capital increase through a rights issue.
The company’s board of directors will determine the date of the EGM at a later time.
The CMA added in a statement that the offering price and number of shares to be offered for subscription will be determined by the company after the close of trading on the day of the EGM.
It said that, after reviewing the request in light of the applicable regulatory requirements and quantitative and qualitative criteria applied to all companies seeking to increase their capital, the CMA approved AMAK’s request outlined above.
The rights issue prospectus will be published and made available to the public at a later date.
The CMA noted that making an investment decision based on the announcement of the company’s capital increase, whether the announcement is in the form of a recommendation by the company’s board of directors or the CMA’s approval of the prospectus for the capital increase through a rights issue, without reviewing the prospectus and studying its contents, may involve high risks.
It stressed that the CMA’s approval of the prospectus should not be viewed as an endorsement of the investment viability of the offering or the shares of the company concerned. Rather, the CMA’s approval of the prospectus means that the applicable regulatory requirements under the Capital Market Law and its Implementing Regulations have been met.
According to data available with Argaam, AMAK’s board of directors recommended in February a SAR 680 million capital increase through a rights issue.
The rights issue will enable the company to support its expansion plans, continue investing, and grow its investment portfolio.
Logo ofAl Masane Al Kobra Mining Co. (AMAK)
The Capital Market Authority (CMA) approved Al Masane Al Kobra Mining Co.’s (AMAK) request to increase its capital by SAR 680 million through a rights issue.
Eligibility will be granted to shareholders registered in the issuer’s shareholder registry at the Securities Depository Center Co. (Edaa) at the end of the second trading day following the date of the extraordinary general meeting (EGM) that approves the capital increase through a rights issue.
The company’s board of directors will determine the date of the EGM at a later time.
The CMA added in a statement that the offering price and number of shares to be offered for subscription will be determined by the company after the close of trading on the day of the EGM.
It said that, after reviewing the request in light of the applicable regulatory requirements and quantitative and qualitative criteria applied to all companies seeking to increase their capital, the CMA approved AMAK’s request outlined above.
The rights issue prospectus will be published and made available to the public at a later date.
The CMA noted that making an investment decision based on the announcement of the company’s capital increase, whether the announcement is in the form of a recommendation by the company’s board of directors or the CMA’s approval of the prospectus for the capital increase through a rights issue, without reviewing the prospectus and studying its contents, may involve high risks.
It stressed that the CMA’s approval of the prospectus should not be viewed as an endorsement of the investment viability of the offering or the shares of the company concerned. Rather, the CMA’s approval of the prospectus means that the applicable regulatory requirements under the Capital Market Law and its Implementing Regulations have been met.
According to data available with Argaam, AMAK’s board of directors recommended in February a SAR 680 million capital increase through a rights issue.
The rights issue will enable the company to support its expansion plans, continue investing, and grow its investment portfolio.
