SPM announces prospectus for capital increase by offering priority rights shares

The Saudi Paper Manufacturing Company (SPM) announced on Wednesday the publication of the prospectus for the rights issue to increase the capital by an amount of (SR145,000,000) and published it on the website of the Capital Market Authority.

It added that the offering of priority rights shares under this prospectus is subject to the approval of the shareholders in the extraordinary general assembly meeting referred to above.

This comes with reference to the Capital Market Authority’s approval to increase the capital of the Saudi Paper Manufacturing company (the “Company”) by an amount of SR (145,000,000) on 15/09/2022 by way of a rights issue.

This comes with reference to the Company’s announcement on the Saudi Exchange on 26/09/2022 inviting its shareholders to the extraordinary general assembly relating to the capital increase.

Whereas the Company provided information related to the offering before the convening of the extraordinary general assembly relating to the capital increase, which will be held virtually on Monday 17/10/2022to approve the increase of its capital and to amend the bylaws.