Latest news with #rightsissue
Bloomberg
a day ago
- Business
- Bloomberg
Klarna CEO Attracts Sweden's Elite in Flat Capital Share Sale
Flat Capital AB, the investment firm of Klarna co-founder Sebastian Siemiatkowski and his wife Nina Siemiatkowski, has broadened its shareholder base via a rights issue that included some of Sweden's most prominent business families. About three-quarters of the 300 million Swedish-krona ($31.4 million) rights issue has been secured by existing owners and new investors, according to a statement late on Monday.
Zawya
21-05-2025
- Business
- Zawya
Saudi's ACWA Power gets CMA nod on $1.9bln rights issue
Saudi utility firm ACWA Power is set to increase its capital by up to SAR 7.125 billion ($1.9 billion) through a rights issue. Saudi Arabia's Capital Market Authority (CMA) confirmed on Tuesday that it has approved the company's request to proceed with the offering. The company, a unit of Saudi Arabia's sovereign wealth fund Public Investment Fund (PIF), is expected to determine the price and number of shares to be offered after the extraordinary general assembly meeting. Last year, the company's board of directors recommended the capital increase 'to anchor its growth strategy' of expanding the assets under management to $250 billion by 2030. The company had anticipated that its average annual equity commitments would reach around $2.5 billion between 2024 and 2030, compared to an earlier range of $1 billion to $1.3 billion. (Writing by Cleofe Maceda; editing by Seban Scaria)
Argaam
21-05-2025
- Business
- Argaam
ACWA Power secures CMA nod on capital hike via SAR 7.12B rights issue
ACWA Power Co. secured the Capital Market Authority's (CMA) no-objection on its planned capital top-up through a rights issue worth SAR 7.125 billion, according to a Tadawul filing today, May 20. Subscription eligibility will be limited to shareholders registered with the Security Depository Center (Edaa) as of the closing of the second trading day after the deciding extraordinary general meeting (EGM), the date for which is yet to be set by ACWA Power's board of directors. The offering price and the number of shares on offer shall be determined by the company after the close of trading on the same day the EGM is due. The rights issue prospectus will be published to the public at a later date. The CMA's approval of the proposed move should never be considered as a recommendation to participate in the offer nor invest in the company's shares. It merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met. In June 2024, ACWA Power's board recommended increasing capital through a SAR 7.125 billion rights offering, according to Argaam 's data. The issuance's proceeds will support its new growth strategy that was adopted in 2023, which targets tripling operations by 2030. This requires higher annual investment obligations, besides maintaining a strong financial position, the company noted.
Zawya
09-05-2025
- Business
- Zawya
OK Zimbabwe's majority shareholders back $30mlm rights issue, CEO says
Grocery retailer OK Zimbabwe Ltd's majority shareholders have agreed to back a $30m rights issue to cover a "funding gap" and stabilise the company's financial position, its chief executive said. "Most of the top five shareholders have indicated interest in following their rights," CEO Willard Zireva told Reuters on Wednesday, 7 May 2025. Earlier this month, the company announced a capital-raising plan including a rights issue, the private placement of shares, and debt instruments to strengthen its balance sheet, liquidity, and support a strategic turnaround plan. It rehired Zireva as CEO earlier this year to lead the turnaround after he retired more than seven years ago. Previously, also as CEO, he had led the group through Zimbabwe's tumultuous hyperinflation era of 2008. OK Zimbabwe has been facing competition from smaller businesses amid their rapid growth. The surge in the informal, or grey, economy in the southern African country has spawned more price-competitive retailers, known as tuck shops, threatening the viability of more established formal retailers. The company said last month it owed $30.34m to suppliers, which it was struggling to service. It has shut down five of its outlets this year and struggled to stock several others. The company's major shareholders include Datvest Nominees Foreign, National Social Security Authority, Old Mutual Life, and Stanbic Nominees, which hold stakes of 19.99%, 16.09%, 13.36% and 12.9%, respectively. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
