Tihama Advertising and Public Relations Co. said that subscription to the remaining shares was 1702.4% covered, according to a bourse statement.

 

Tihama’s rights issue was 86.8% subscribed, as subscribers injected SAR 86.78 million in 8.68 million shares.

 

The remaining shares were offered to institutional investors on a pro rata basis on August 11-12, 2020.

 

On July 20, Tihama kicked off subscription to new shares and rights trading to raise its capital from SAR 75 million to SAR 175 million.

 

The company offered 10 million shares at SAR 10 each at a total value of SAR 100 million. Rights subscription period ended on Thursday, August 6.

 

Offering Details

Number of subscribed shares

1.32 mln shares

Average subscription price

SAR 20.10/ share

Coverage ratio

1702.4%

Total proceeds

SAR 26.59 mln

Refunds and fractions

SAR 13.36 mln

Date of shares' deposit at EDAA  

Aug. 20, 2020

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