Logo of Batic Investments and Logistics Co.

Batic Investments and Logistics Co.’s rights issue was 84.9% covered, as subscribers injected SAR 254.7 million in 25.47 million new shares, the company said in a bourse filing. 

 

Rights Issue Details

Number of rights issue shares

30 mln 

Number of subscribed shares

25.47 mln

Subscription value

SAR 254.7 mln

Coverage ratio (%)

84.90%

Number of rump shares

4.53 mln

Rump offer period

Dec. 28-29, 2021

 

The rump shares will be offered to a number of institutional investors, provided that such institutions bid for these shares.  

  

Rump shares will be allocated first to the institutional investors with the highest bids, provided that they are not less than the offer price. The shares will be allocated proportionately to the institutional investors submitting the same offer.  

 

If shares remain unpurchased by institutional investors, they will be allocated to the underwriter who will purchase them at the offer price.

 

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