Logo ofSaudi Cable Co.
Saudi Cable Co.’s revised the details of its capital increase through a rights issue, with the board deciding to raise the offering price to SAR 32 per share from SAR 10, while reducing the number of offered shares to 12.5 million from 40 million. 
In a statement to Tadawul, the company said SAR 10 of the offering price represents the nominal value of the share, while SAR 22 constitutes a share premium that will be recorded under shareholders’ equity in the company’s financial statements.
The application is still under review by the Capital Market Authority (CMA) and is subject to relevant regulatory approvals, including the approval of the company’s extraordinary general assembly (EGM).
Details of Revised rights Issue Recommendation
Item
Details
Current Capital
SAR 66.73 mln
Current No. of Shares
6.67 mln
Previous Recommendation
New Recommendation
New Capital after Increase
SAR 400 mln
SAR 191.73 mln
No. of shares after Increase
46.67 mln
19.17 mln
Capital Hike Amount
SAR 400 mln
SAR 400 mln
No. of Rights Issue Shares
40 mln
12.5 mln
Rights Issue Price/Share
SAR 10
SAR 32
According to data available on Argaam, Saudi Cable’s board recommended, in May 2024, a capital increase via a SAR 400 million rights issue.
Logo ofSaudi Cable Co.
Saudi Cable Co.’s revised the details of its capital increase through a rights issue, with the board deciding to raise the offering price to SAR 32 per share from SAR 10, while reducing the number of offered shares to 12.5 million from 40 million.
In a statement to Tadawul, the company said SAR 10 of the offering price represents the nominal value of the share, while SAR 22 constitutes a share premium that will be recorded under shareholders’ equity in the company’s financial statements.
The application is still under review by the Capital Market Authority (CMA) and is subject to relevant regulatory approvals, including the approval of the company’s extraordinary general assembly (EGM).
Details of Revised rights Issue Recommendation
Item
Details
Current Capital
SAR 66.73 mln
Current No. of Shares
6.67 mln
Previous Recommendation
New Recommendation
New Capital after Increase
SAR 400 mln
SAR 191.73 mln
No. of shares after Increase
46.67 mln
19.17 mln
Capital Hike Amount
SAR 400 mln
SAR 400 mln
No. of Rights Issue Shares
40 mln
12.5 mln
Rights Issue Price/Share
SAR 10
SAR 32
According to data available on Argaam, Saudi Cable’s board recommended, in May 2024, a capital increase via a SAR 400 million rights issue.
