24 Oct 2023capital raising announcement● Neutral
The amendment attaching the actual agreement puts numbers on Ma'aden's top-up: 1,513,650 shares at $13.50 for $20.4 million, closing 31 October - the same price September's public buyers paid. The Saudi miner's 9.9% stake was restored rather than enlarged.
What it means for a shareholder
1.5m new shares at US$13.50 to raise about US$20.4m. That's 1.3% dilution: every existing holder's slice gets 1.3% smaller. If you held US$1,000 of shares (74 at the issue price), your slice goes from 0.000063% to 0.0000622% of the company. To keep it you'd need 1 more shares - about US$14 at the issue price.
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