Maaden: The Public Investment Fund subscribed to its full allocated rights

Saudi Arabian Mining Company (Maaden) said that the Public Investment Fund (one of the founders and substantial shareholders of Maaden) subscribed to its full allocation of rights and as such continues to maintain its stake in Maaden at exactly the same level as prior to the Capital raise.

“Due to the rights issue process involving fractional shares and the odd number of total shares outstanding in Maaden; the total stake of Public Investment Fund in Maaden currently consists of 584,239,128 shares equivalent to less than 50% of Maadens total outstanding shares of 1,168,478,261 and on a fully accurate basis equates to 49.9999998%”; Maaden said in a filing to Tadawul today.
 

According to Argaam; the first and second subscription periods of Maaden’s IPO were 93.97% subscribed raising an amount of SAR 5.26bn for 228.76m shares. The remaining 14.7m shares were sold to investment institutions at SAR 28.21 per share.