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Nasij begins trading and subscription period
Naseej International Trading Company has announced the start of the rights trading period and the subscription for its new shares, aiming to increase its capital by 150%. The rights trading will continue for six days until September 8, 2026, followed by a nine-day subscription period that will end on September 13, 2026. Through this process, the company seeks to raise approximately 163.46 million Saudi Riyals, which will be used to settle financial obligations and support expansions in the industrial and real estate sectors. The company will issue 16.34 million new shares at a price of 10 Riyals per share, raising its capital from 108.97 million Riyals to 272.43 million Riyals, and increasing the number of shares from 10.89 million to 27.24 million shares. The rights are set at a ratio of 1.5 rights per share, granting existing shareholders priority in subscribing, with the option to sell their rights during the specified period. More than half of the proceeds (51.2%) will be allocated to repay bank loans, with 35 million Riyals directed toward real estate investments, and 15 million Riyals for developing a workers' residential building, in addition to covering offering costs and other liabilities. The company's goal with this step is to improve financial performance indicators, especially the debt-to-equity ratio, amid accumulated losses of approximately 69.7 million Riyals, and to enhance its available liquidity.
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