SAIB says remaining treasury shares sale 648% covered

05/09/2021 Argaam

A branch of The Saudi Investment Bank

The Saudi Investment Bank (SAIB) announced in a bourse statement today, Sept. 5, the results of the treasury shares sale, noting that by the end of the rump offering period, the coverage percentage reached 648%.

 

Treasury Shares Sale Details

Number of Shares Sold

9.75 mln

Proceeds from Sale of Unsubscribed Shares

SAR 151.75 mln

Average Price of Shares Sold

SAR 15.56

Coverage Ratio

648%

Date of Depositing Shares into Shareholders Accounts

Sept. 9, 2021

 

According to data compiled by Argaam, SAIB’s rights issue subscription period for treasury shares closed on Aug. 26.

 

The rights trading and the treasury shares purchase period started on Aug. 16, by offering 75 million shares of the bank’s treasury shares at a price of SAR 13.50 per share.

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