Logo ofThimar Development Holding Co.
Thimar Development Holding Co. announced the prospectus for its capital increase through a SAR 195 million rights offering. 
The company plans to offer about 19.5 million shares at SAR 10 each, to increase capital from SAR 65 million to SAR 260 million.
The company intends to use the net proceeds of the offering to maximize its expansion capacity in investments to support the company’s activities according to the financial organization plan.
The Capital Market Authority (CMA) approved earlier the request received from the company to increase capital through SAR 195 million rights issue, as per Argaam‘s data.
Capital Hike Details
Current Capital
SAR 65 mln
Number of Shares
6.5 mln
New Capital
SAR 260 mln
New Number of Shares
26 mln
Percentage of Increase
300%
Par Value
SAR 10
Rights Issue Details
Offered shares
19.5 mln
Offering Price
SAR 10
Issue Size
SAR 195 mln
Eligibility Ratio
Each listed shareholder shall have the right to subscribe to 3 shares per each owned share.
Rights issue proceeds
Food, agricultural and meat investment
60.00
Real estate investment
54.00
Investing in investment portfolios
30.00
Financing working capital
20.62
Partial payment of creditors according to the financial reorganization proposal
12.10
Offering expenses
18.29
Total
195.00
The company has paid a portion of the offering costs, amounting to SAR 1.46 million, including value-added tax.
It will offset this amount (“offering costs”) from the proceeds of the capital increase, should the increase occur, and redirect the amount to real estate investment as part of the plan to utilize the proceeds from the previous offering.
Additional Information
Financial Advisor and Underwriter
Wasatah Capital
Lead Manager
Musharaka Capital
Logo ofThimar Development Holding Co.
Thimar Development Holding Co. announced the prospectus for its capital increase through a SAR 195 million rights offering.
The company plans to offer about 19.5 million shares at SAR 10 each, to increase capital from SAR 65 million to SAR 260 million.
The company intends to use the net proceeds of the offering to maximize its expansion capacity in investments to support the company’s activities according to the financial organization plan.
The Capital Market Authority (CMA) approved earlier the request received from the company to increase capital through SAR 195 million rights issue, as per Argaam‘s data.
Capital Hike Details
Current Capital
SAR 65 mln
Number of Shares
6.5 mln
New Capital
SAR 260 mln
New Number of Shares
26 mln
Percentage of Increase
300%
Par Value
SAR 10
Rights Issue Details
Offered shares
19.5 mln
Offering Price
SAR 10
Issue Size
SAR 195 mln
Eligibility Ratio
Each listed shareholder shall have the right to subscribe to 3 shares per each owned share.
Rights issue proceeds
Food, agricultural and meat investment
60.00
Real estate investment
54.00
Investing in investment portfolios
30.00
Financing working capital
20.62
Partial payment of creditors according to the financial reorganization proposal
12.10
Offering expenses
18.29
Total
195.00
The company has paid a portion of the offering costs, amounting to SAR 1.46 million, including value-added tax.
It will offset this amount (“offering costs”) from the proceeds of the capital increase, should the increase occur, and redirect the amount to real estate investment as part of the plan to utilize the proceeds from the previous offering.
Additional Information
Financial Advisor and Underwriter
Wasatah Capital
Lead Manager
Musharaka Capital
