A branch of Saudi Investment Bank
Saudi Investment Bank (SAIB) saw two negotiated deals today, Aug. 23, on its treasury rights for a total of SAR 13.7 million.
A negotiated deal involves a stock purchase based on a bargain between buyers and sellers, apart from market price. The negotiated price does not impact directly on market price.
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Key Facts |
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|
Bank |
Rights Price (SAR) |
Negotiated Price (SAR) |
Rights Traded |
Value (SAR mln) |
|
SAIB treasury rights |
2.16 |
2.00 |
3,029,232 |
6.06 |
|
3,798,924 |
7.60 |
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The rights trading period ends today, Aug. 23, according to data compiled by Argaam.
SAIB announced a plan to sell 75 million of its owned treasury shares, representing 9.99% of capital, through a mechanism similar to a rights issue.
Holders of rights issue are allowed to exercise their right to buy treasury shares up to the number of rights available in their portfolios.
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