ZALZarea LtdView ZAL share price and chartMixed Signal
Zarea Limited proposes PKR 3 billion rights issue at PKR 25 per share
Rights / BonusZarea Limited’s draft right-share offer document proposes issuing 120 million ordinary shares to existing shareholders at PKR 25 each, in the ratio of 16 rights shares for every 35 shares held. The company expects net proceeds of PKR 2.9515 billion, primarily for repayment of PKR 2 billion Sukuk principal and additional working capital. The issue provides funding for business expansion and debt repayment but entails dilution for shareholders who do not participate.
Payout
- Right shares 16 for 35 at Rs 25
Key Findings
- The proposed issue comprises 120,000,000 ordinary shares with a face value of PKR 1 each, offered at PKR 25 per share, including a PKR 24 premium.
- Eligible shareholders are offered 16 rights shares for every 35 ordinary shares held, representing approximately 45.71% of existing paid-up share capital.
- Gross proceeds are PKR 3 billion; estimated net proceeds after PKR 48.5 million issue expenses are PKR 2.9515 billion.
- Proceeds are intended to repay PKR 2 billion of Sukuk principal and provide PKR 951.5 million for additional working capital.
- The document states the rights issue is tradable on PSX and investors bear the risks and rewards of the entitlement.
Corporate Action Details
Action
Rights issue of 120 million shares at PKR 25 per share, in the ratio of 16 rights shares for every 35 shares held
Ratio
16 rights shares for every 35 ordinary shares held
Issue price
PKR 25 / share
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Highlights summarize the key points from the company's official PSX filing. View the original filing for the complete details before making financial decisions.
