Saudi Fisheries rights trading, subscription period starts tomorrow

07/06/2020 Argaam

Saudi Fisheries Co.’s (Alasmak) subscription to new shares and the rights trading will start tomorrow, June 8, 2020.

 

Rights trading will end on June 15, while subscription to the new shares will close on June 18.

 

Rights holders are entitled to subscribe to the new shares partially or fully pro rata. The remaining shares will be reoffered to institutional investors.

 

In case of under subscription, the underwriters, Falcom Financial Services, will subscribe to these rights.

 

On May 14, Alasmak’s shareholders approved a capital increase from SAR 101.1 million to SAR 400 million, through a rights issue of 29.8 million shares, Argaam earlier reported.

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