SIECO rights issue 89.34% covered

05/06/2022 Argaam
Logo ofSaudi Industrial Export Co. (SIECO)

Logo of Saudi Industrial Export Co. (SIECO)

Saudi Industrial Export Co. (SIECO) announced the details of the rights issue and the subscription to the new shares, as follows:

 

Details

Total Offered Shares

17.28 mln 

Number of Subscribed Shares

15.44 mln

Subscription Value

SAR 154.38 mln

Coverage Ratio

89.34%

Rump shares

1.84 mln

Offering Date of Rump Shares

June 7-8, 2022
 

Rump shares will be offered to a number of institutional investors, provided that those institutions submit purchase offers for the rump shares.

 

Remaining shares will be allocated to institutional investors pro rata. Unsubscribed shares will be offered to the underwriter at the offering price.

 

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