A branch of Raydan Food

Raydan Food Co. said that the rights issue remaining shares were 1,822.3% oversubscribed, according to a bourse filing.

 

Rights Issue Details

Number of Sold Shares

307,781

Total Proceeds from Selling Unsubscribed Shares

SAR 8.34 mln

Coverage ratio (%)

1,822.3%

Average Price of Sold Shares

SAR 27.09

Net Compensation for Rights Issue, Fraction Shares Owners

SAR 5.26 mln 

Date of Depositing Shares in Eligible Accounts

Sept. 2, 2021

 

According to data compiled by Argaam, subscription period for the rights issue of Raydan ended on Aug. 19, and the coverage ratio at the end of the offering was 97.26%.

 

Subscription period began on Aug. 9, by offering 11.25 million shares of rights issue at a price of SAR 10 per share, with a total value of SAR 112.5 million, in order to increase its capital from SAR 225 million to SAR 337.5 million.

 

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Raydan Food rights issue 97.26% subscribed

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