Amiantit rights issue 91.71% subscribed

Logo of Saudi Arabian Amiantit Co.

Saudi Arabian Amiantit Co. announced today, March 11, the results of right issues trading and new shares subscription, as well as the details of the rump offering, as follows:

 

Offering Details

Number of Offered Shares

34.65 mln

Number of Subscribed Shares

31.78 mln

Value of Subscribed Shares

SAR 317.78 mln

Coverage Ratio (%)

91.71%

Number of Rump Shares

2.87 mln

Date of Rump Offering

March 13-14, 2024
 
 

Rump shares will be offered at the minimum of the offering price to a number of institutional investors, who shall submit offers to purchase the rump shares, according to a Tadawul statement.

 

Moreover, they will be allocated to institutional investors of the highest to lowest bids. The shares will be allocated proportionately to institutional investors who make the same offer.

 

If institutional investors have not subscribed to all the rump shares, they will be allocated to the underwriter who will buy them at the offering price.

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