Logo ofSaudi Vitrified Clay Pipes Co. (SVCP)
The Capital Market Authority (CMA) approved Saudi Vitrified Clay Pipes Co.’s (SVCP) capital top-up request, through a rights issue worth SAR 80 million, according to a statement today, April 2. 
Subscription eligibility will be limited to shareholders registered with the Security Depository Center (Edaa) as of the closing of the second trading day after the deciding extraordinary general meeting (EGM), the date for which is yet to be set by the company’s board of directors.
The offering price and the number of shares on offer shall be determined by the company after the close of trading on the same day the deciding EGM is convened.
The rights issue prospectus will be published to the public at a later date.
The CMA’s approval of the proposed move should never be considered as a recommendation to participate in the offering nor invest in the company’s shares. It merely means that the legal requirements as per the Capital Market Law and the Implementing Regulations have been met.
The company said in August 2024 it intends to increase capital from SAR 150 million to SAR 230 million through a rights issue worth SAR 80 million, Argaam earlier reported.
Logo ofSaudi Vitrified Clay Pipes Co. (SVCP)
The Capital Market Authority (CMA) approved Saudi Vitrified Clay Pipes Co.’s (SVCP) capital top-up request, through a rights issue worth SAR 80 million, according to a statement today, April 2.
Subscription eligibility will be limited to shareholders registered with the Security Depository Center (Edaa) as of the closing of the second trading day after the deciding extraordinary general meeting (EGM), the date for which is yet to be set by the company’s board of directors.
The offering price and the number of shares on offer shall be determined by the company after the close of trading on the same day the deciding EGM is convened.
The rights issue prospectus will be published to the public at a later date.
The CMA’s approval of the proposed move should never be considered as a recommendation to participate in the offering nor invest in the company’s shares. It merely means that the legal requirements as per the Capital Market Law and the Implementing Regulations have been met.
The company said in August 2024 it intends to increase capital from SAR 150 million to SAR 230 million through a rights issue worth SAR 80 million, Argaam earlier reported.
