{"id":100703,"date":"2025-09-18T00:00:00","date_gmt":"2025-09-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/09\/18\/thimar-issues-prospectus-for-its-sar-195-mn-rights-issue\/"},"modified":"2025-09-18T00:00:00","modified_gmt":"2025-09-18T00:00:00","slug":"thimar-issues-prospectus-for-its-sar-195-mn-rights-issue","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/09\/18\/thimar-issues-prospectus-for-its-sar-195-mn-rights-issue\/","title":{"rendered":"Thimar issues prospectus for its SAR 195 mn rights issue"},"content":{"rendered":"

Thimar Development Holding is moving ahead with a SAR 195 mn rights <\/strong>issue<\/strong>, offering 19.5 mn ordinary shares at SAR 10 apiece, tripling its capital to SAR 260 mn from SAR 65 mn, according to the prospectus (pdf)<\/a> it released yesterday. The move got the greenlight from the Capital Market Authority last week<\/a>, after the company submitted an application last year<\/a>.<\/p>\n

Next step:<\/strong> Eligible shareholders will be granted about three shares for every one owned, with each share allowing subscription to one new share. Shares will be tradeable on Tadawul, with a subsequent rump offering to institutions for any unsubscribed shares. The subscription period will be determined following the general assembly\u2019s approval.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

Use of proceeds:<\/strong> Thimar is earmarking around SAR 18 mn from the expected SAR 176.7 mn in proceeds to cover offering costs. The remainder of the proceeds will be divided between food, agriculture, and meat investments (SAR 60 mn), real estate investments (SAR 54 mn), investment portfolios (SAR 30 mn), working capital, (SAR 20.6 mn), and the partial repayment of creditors (SAR 12.1 mn). <\/p>\n

IN CONTEXT-<\/strong> This is Thimar\u2019s second capital raise in as many years, after shareholders approved a SAR 150 mn rights issue in October 2023<\/a>. However, the company subsequently cut its capital by 74% in June 2024<\/a> to stymie accumulated losses.<\/p>\n

ADVISORS-<\/strong> Wasatah Capital is acting as the financial advisor and underwriter, with Musharaka Capital serving as lead manager for the offering.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company is offering 19.5 mn ordinary shares at SAR 10 apiece<\/p>\n","protected":false},"author":1,"featured_media":100704,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2704],"tags":[2419,57,10,2452,1845],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-100703","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-capital-markets","tag-capital-markets","tag-debt-watch","tag-enterpriseam-ksa","tag-tadawul","tag-thimar-development","wpautop","entry"],"acf":{"mongo_id":"da9f6680-befa-45f7-84ae-858eb94abfa7","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/677.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Thimar issues prospectus for its SAR 195 mn rights issue","related_issue":[100690],"teaser":"The company is offering 19.5 mn ordinary shares at SAR 10 apiece","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/9\/.cfeebb9d-df1f-429a-bf07-e37b64a23ac8.mp3"},"yoast_head":"\nThimar issues prospectus for its SAR 195 mn rights issue - 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