Logo design of Etihad Atheeb Telecommunication Co. (GO)
The Capital Market Authority (CMA) authorized the application gotten from Etihad Atheeb Telecommunication Co. (GOto increase its capital through a SAR 250 million rights offering.
Qualified investors are signed up with the Security Depository Center (Edaa) since the close of the 2nd trading day after the remarkable basic conference (EGM), which will be identified by the board of directors at a later date.
The offering cost and variety of shares provided will be set by the business after the close of trading on the EGM date. The rights offering prospectus will be released later on.
In March, Etihad Atheeb’s board of directors proposed increasing capital by SAR 250 million through a rights problem to pay financial obligations and upgrade systems and networks, according to information assembled by Argaam
A financial investment choice based upon the business’s board suggestion to increase its capital or the CMA’s approval without thoroughly checking out the rights problem prospectus or totally evaluating its material might include high threat.
The CMA’s approval of the prospectus must never ever be thought about as a suggestion to take part in the offering or purchase the business’s shares. The CMA’s approval of the prospectus simply implies that the legal requirements based on the Capital Market Law and its Implementing Regulations have actually been satisfied.