CMA Approve to Increase “Naseej'” Capital by $150 million

The Capital Market Authority (CMA) have approved Naseej International Trading Company’s proposal, to raise its capital by (150,000,000).

The raising shall take place through issuance of priority rights, provided that the shareholders are registered, in the issuer’s shareholding register, at the Depository Center, at the end of the second trading day.

That shall be done, following the date of the extraordinary general assembly, that to decide the raising of the capital by offering rights’ shares, on a date to be set by the company’s board of directors, later on.

After the close of trade on the day of the extraordinary general assembly, the firm shall fix the offering price and number of shares available for subscription.

The Capital Market Authority issued its decision, granting the request of Naseej International Trading Company set out above, after considering the proposal in the light of the regulatory requirements, quantitative and qualitative criteria, applicable to all companies willing to expand their capitals.

The rights’ issue prospectus shall be published and made available to the public, later on.

The CMA stated that the investment decision was based on the company’s capital increase, being announced, whether the announcement is a recommendation from the company’s board of directors or the authority’s acceptance of the prospectus, for the capital increase through a rights issue. Without first reading and examining the prospectus, it could come with a lot of risks.

As a result, the prospectus shall be read by the investor.

This document offers in-depth information about the company, its products, and risk factors.

Carefully examining it to determine whether it is feasible to invest in the offering, given the risks involved, or not.

If the contents of the prospectus are unclear, it is best to seek the advice of a licensed financial counselor.

Furthermore, CMA approval of the prospectus shall not be interpreted as an endorsement of the feasibility of investing in the offering, or in the shares of the concerned company, because the authority’s decision to approve the prospectus only indicates, that the legal requirements of the Capital Market Law and its implementing regulations, have been met.