Naseej rump offering 633.4% oversubscribed

29/11/2021 Argaam

Logo of Naseej International Trading Co.

Naseej International Trading Co. announced that the rump offering was 663.4% oversubscribed, according to a bourse filing today, Nov. 29.

 

Offering Details

Number of Shares Sold

621,770 

Total Proceeds from Selling Rump Shares

SAR 16.3 mln

Coverage Ratio (%)

633.4%

Average Share Price

SAR 26.22

Net Compensation for Rights Issue & Fraction Shareholders

SAR 10.08 mln

Date of Depositing Shares in Shareholders Accounts

Dec. 2, 2021

 

The rights subscription period ended on Nov. 21, according to data available with Argaam.

 

Subscription period started on Nov. 9, to increase the company’s capital from SAR 61.6 million to SAR 211.6 million, through a rights issue of 15 million shares at SAR 10 per share.

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